Bitcoin speculators dominate crypto use now

Speculative uses are now responsible for most transactions today. That doesn’t mean criminals stopped using Bitcoin, it's just that the proportions have effectively swapped. The total volume of criminal bitcoin transactions has still increased over the years as dark market activity has grown.

The volume has grown tremendously, the amount of transactions and the dollar value has grown tremendously over the years in criminal activity, but the ratio has decreased. The majority of transactions are used for price speculation.

Lilita Infante, a special agent from the U.S. Drug Enforcement Administration

The figures Infante states indicate that most criminals are still using Bitcoin as a means of payment for more than just drug deals. Criminal networks are increasingly finding digital currencies useful for other purposes. These include cross-border payments and money laundering.

Related news

Major Financial Institutions, Asset Managers and Blockchain Industry Leaders to Convene in New York at the Digital Asset Summit, May 15, 2019

NEW YORK, March 26, 2019 /PRNewswire/ -- BlockWorks Group (www.blockworksgroup.io) is pleased to announce its inaugural Digital Asset Summit (www.digitalassetsummit.io) taking place May 15th in New York City, which will bring together 500 of the most influential fund managers, banks, family offices, regulators, CIOs and blockchain innovators. Digital Asset Summit (DAS) is the only event during blockchain week designed specifically for financial market professionals and institutional investors.  The conference is being convened at a critical time as real-world applications of blockchain technology are being adopted by a growing number of leading financial firms. Digital Asset Summit attendees will hear from a curated blend of financial and blockchain industry leaders who together bring a balanced, pragmatic view of the developing digital asset ecosystem. Attendees will be primarily buy-side and sell-side financial industry professionals who are interested in learning from and collaborating with other leaders in the space. Featured sessions include: Keynote from Fusion Foundation's CEO, Dejun Qian: Digital Assets and the Internet of Value Keynote from DTCC's Managing Director & Chief Technology Architect, Rob Palatnick: Creating Trust in a Trustless Platform Fireside Chat with RRE Ventures Full story available on Benzinga.com
Benzinga

London Mayor Enlists Blockchain Entrepreneur into City’s New Skills Business Partnership  

The Mayor of London chose the Market Orders co-founder to become a part of a handpicked group from across London’s businesses in a partnership that will enable him to recreate the city’s skill system. The initiative hopes to better the needs of employers in the face of Brexit challenges and continued automation, according to aRead MoreRead More. The post by Tom Nyarunda appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
BTC Manager

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.