Data Shows Under 1% of Bitcoin and Crypto Transactions Have Criminal Intent

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The new US Treasury Secretary Janet Yellen’s recent negative comments about Bitcoin and crypto have revolved around alleged “illicit use.” However, data from a top blockchain analysis firm claims that under 1% of all cryptocurrency transactions are related to criminal activity. Here’s why the former Federal Reserve Chair’s assumptions about the digital asset class are way off base. Under 1% of Crypto Transactions Are Tied To Illicit Use Bitcoin is an asset and currency unlike anything else that existed before it. The futuristic technology and lack of tangible, real-world presence makes many uncomfortable with and skeptical of cryptocurrencies. Early on, Bitcoin got its start as a currency on the Silk Road dark web marketplace, where it was exchanged for drugs, explosives, weapons, and other illegal goods. Since then, Bitcoin has matured as a financial asset, it has fallen out of favor as the cryptocurrency of choice on the dark web,…

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