Bitcoin Darknet Spending 800x Lower Than Fiat Money Laundering: Research

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Bitcoin contributes 800 times less value to the world’s money laundering total than fiat, new data suggests. $1 in BTC, $800 in Fiat The result of fresh research from analysis firm Messari, the giant figure adds to the increasing stack of evidence that cryptocurrency does not play a large role in illicit financial activity worldwide. According to Messari, which released its findings on July 16, for every $1 dollar in BTC spent on the darknet, $800 in fiat is laundered. The company said it decided to produce the statistics as a direct response to recent criticism of Bitcoin by politicians, specifically in the US, where Congress held several hearings dedicated to cryptocurrency last week. As reported, testimony from lawmakers featured the full spectrum of cliches regarding Bitcoin, with naysayers repeatedly focusing on perceived criminal activity. Despite multiple research projects concluding the risk Bitcoin poses to financial stability due to money…

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