Thursday, July 31, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Crypto Legitimacy Confirmed: Almost 100% Of Cryptocurrency On-Chain Is Authorized

by SB Crypto Guru News
January 21, 2024
in Crypto Updates
Reading Time: 3 mins read
0 0
A A
0


A latest crypto crime report by blockchain analytics agency Chainalysis has revealed that the overwhelming majority of cryptocurrency transactions, roughly 99.6%, are used for authorized functions. The research sheds gentle on the evolving panorama of cryptocurrency utilization and challenges prevailing narratives surrounding illicit actions within the crypto house.

Based on the report, the full worth of cryptocurrency despatched to illicit addresses witnessed a major lower from $39.6 billion in 2022 to $24.2 billion in 2023. The 2022 determine was partly inflated by $8.7 billion in FTX creditor claims following the collapse of the Sam Bankman-Fried-led startup.

Crypto Is Legit, Chainalysis Says

The findings offered by Chainalysis point out that illicit cryptocurrency transactions accounted for simply 0.34% of all cryptocurrency quantity in 2023, down from 0.42% in 2022 and a considerable decline from 1.3% in 2019.

These figures problem public statements made by influential enterprise leaders, similar to JPMorgan Chase & Co. CEO Jamie Dimon, who’ve expressed considerations about cryptocurrency’s position in unlawful actions like tax avoidance, cash laundering, and terrorism financing.

Crypto followers, together with as Edward Snowden, laughed Dimon off for what they noticed as an excessively dramatic stance.

Wild how the @SECGov approving a #Bitcoin ETF was all it took to rework the CEO of @JPMorgan from the King of Cash into that man who spends one half of each interview insisting “I don’t care about Bitcoin,” and the opposite half sobbing that it stole his spouse and shot his canine.

— Edward Snowden (@Snowden) January 17, 2024

Nonetheless, it is very important be aware that the Chainalysis figures don’t embody funds derived from non-crypto native crime, potential market manipulation, or funds related to crypto cash laundering.

The report focuses solely on funds stolen in crypto hacks and people directed to addresses recognized as illicit.

Regardless of the decline, it’s value highlighting that cryptocurrency-related crime stays small compared to illicit actions inside the broader monetary business.

Whole crypto market cap at $1.12 trillion on the weekend chart: TradingView.com

The latest International Monetary Crime Report by Nasdaq estimates that over $3.1 trillion in illicit funds circulated via the worldwide monetary system in 2023. Notably, drug trafficking accounted for $782.9 billion, human trafficking for $346.7 billion, and terrorist financing for $11.5 billion.

Bitcoin-Associated Crimes Dropping

The Chainalysis report additionally sheds gentle on the evolving traits in cryptocurrency utilization for illicit functions. Whereas Bitcoin had been the main cryptocurrency utilized by cybercriminals till 2021 as a consequence of its excessive liquidity nature, its quantity in illicit transactions has been constantly lowering over the previous 5 years.

Bitcoin's quantity in illicit transactions has been constantly down over the previous 5 years. Picture: Freepik

As a replacement, stablecoins, similar to Tether, have emerged as outstanding gamers in each legit and illicit actions inside the cryptocurrency market.

The rise of stablecoins in illicit transactions highlights the necessity for continued vigilance and regulatory measures to handle potential dangers. It’s essential for authorities, business gamers, and legislation enforcement companies to stay proactive in figuring out and mitigating illicit actions whereas concurrently fostering innovation and progress inside the cryptocurrency sector.

General, the Chainalysis report offers useful insights into the state of cryptocurrency transactions, revealing that the overwhelming majority are performed for authorized functions.

The decline in illicit utilization signifies progress in constructing a safer and compliant crypto ecosystem. Nonetheless, the report serves as a reminder that ongoing efforts are crucial to handle potential dangers and make sure the accountable use of cryptocurrencies in an more and more digital monetary panorama.

Featured picture from Freepik





Source link

Tags: Bitcoin NewsCryptoCrypto NewsCrypto UpdatesCryptocurrencyLatest News on CryptoLegallegitimacyOnChainProvenSB Crypto Guru News
Previous Post

This AI-Powered Content material Creator Can Assist You Write Simply About Something

Next Post

Worth Locked in Defi Surpasses $57 Billion, Securing Over $20 Billion in 3 Months

Related Posts

Caitlin Long Joins Publicsquare Board

Caitlin Long Joins Publicsquare Board

by SB Crypto Guru News
July 31, 2025
0

PSQ Holdings, Inc. (NYSE: PSQH), also known as Publicsquare, announced on Wednesday, the appointment of longtime crypto advocate and Custodia...

Strategy Buys .46 Billion In Bitcoin—Biggest In 8 Months

Strategy Buys $2.46 Billion In Bitcoin—Biggest In 8 Months

by SB Crypto Guru News
July 31, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Strategy has just added to its Bitcoin...

The Detailed Crypto Exchange Analysis in 2025

The Detailed Crypto Exchange Analysis in 2025

by SB Crypto Guru News
July 30, 2025
0

WEEX crypto exchange is a global digital asset trading platform that allows users to buy, sell, and trade over 1,700...

Midl Secures .4M Seed Investment from Draper Associates and Draper Dragon to Pioneer Native dApp Infrastructure on Bitcoin

Midl Secures $2.4M Seed Investment from Draper Associates and Draper Dragon to Pioneer Native dApp Infrastructure on Bitcoin

by SB Crypto Guru News
July 30, 2025
0

This content is provided by a sponsor. Dover, US – July 30th, 2025 – Midl, an infrastructure that brings smart...

Dragonfly Capital Dodges DOJ Threat in Tornado Cash Trial

Dragonfly Capital Dodges DOJ Threat in Tornado Cash Trial

by SB Crypto Guru News
July 30, 2025
0

Enjoyed this article? Share it with your friends! Haseeb Qureshi, co-founder of Dragonfly Capital, stated that the firm is no...

Load More
Next Post
Worth Locked in Defi Surpasses  Billion, Securing Over  Billion in 3 Months

Worth Locked in Defi Surpasses $57 Billion, Securing Over $20 Billion in 3 Months

Unlocking Potential Positive aspects With Ignored Altcoins and Meme Cash | by COINUPUP | The Darkish Facet | Jan, 2024

Unlocking Potential Positive aspects With Ignored Altcoins and Meme Cash | by COINUPUP | The Darkish Facet | Jan, 2024

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.