Questions tagged [illicit]

KimonoElegantGlitter Thu Jul 11 2024 | 7 answers 1464

As a cryptocurrency and finance practitioner, I'm often asked about the illicit use of digital currencies. The question of "What percentage of cryptocurrencies are illicit?" is a complex one, as it's difficult to accurately quantify illicit activity in this decentralized and anonymous space. However, it's worth noting that while cryptocurrencies themselves are not inherently illicit, they have unfortunately been associated with illegal activities such as fraud, money laundering, and financing of terrorism. While estimates vary widely, some studies suggest that a significant portion of cryptocurrency transactions may be linked to illicit activities. However, it's important to remember that these figures often include both intentional misuse and potential misuse that may not actually occur. Additionally, the majority of cryptocurrency transactions are likely legitimate and used for lawful purposes such as investing, payments, and remittances. So in summary, while a certain percentage of cryptocurrencies may be used illicitly, it's difficult to accurately quantify this percentage and important to remember that the vast majority of transactions are likely legitimate.