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Illicit crypto usage as a percent of total usage has fallen: Report

Illicit crypto usage as a percent of total usage has fallen: Report

Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace.

The cryptocurrency industry has long held a reputation in some jurisdictions as a

Some of the most significant regulatory events cited in the report include the United States President  Biden’s crypto executive order in March to study blockchain technology, Dubai establishing a virtual assets regulator and the European Union’s proposed Anti-Money Laundering laws.

CipherTrace added organizations are going to have a “very real incentive to shape up” or face “heavy losses at the hands of the government,” adding it expects the threats existing in crypto will be the focus of future regulatory efforts.

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