Illegal activities are reduced to 10%, cryptocurrency speculators now dominate the encrypted use: United States DEA

  Illegal activities are reduced to 10%, cryptocurrency speculators now dominate the use of crypto: United States DEA 20519

Illegal transactions are being reduced in the cryptocurrency market according to a Bloomberg report. In an interview with Bloomberg, Lilita Infante at the US Drug Enforcement Administration [DEA] claimed that users still use Bitcoin for most of their transactions unlawful, however, the relationship between cryptographic coins used for illegal transactions has been reduced. This implies that speculators are gradually recovering in the encrypted market to finally gain the upper hand on the market.

According to Infante, 90% of transactions in the encrypted market were illegal. Illegal transactions have been increasing since 2013 compared to investor activities. He said that the relationship between legal transactions and illegal transactions has changed with illegal transactions that are reduced by about 10%. This may not be considered a possible loosening in illicit transactions.

" The volume has grown enormously, the amount of transactions and the value of the dollar has grown enormously over the years in criminal activities, but the ratio has decreased ," he said during the period. interview. " Most transactions are used for price speculation ."

Infante is a special agent of the DEA that is part of the 10-person Cyber ​​Investigative Task Force. The team focuses on investigating the dark web and virtual currency and helps other units in the Justice Department, including the Federal Bureau of Investigation and the Bureau of Alcohol, Tobacco, Firearms and Explosives.

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Infante discoveries show that criminal rackets use Bitcoin for its actual characteristics. Factors such as anonymity, the decentralized system, no intermediary are some interesting features that are observed by the perpetrators. Repetitions of crimes in the cryptocurrency market including the recent mining malware attack tackled by Monero [XMR] casts a shadow over these results.

The Hustlers also consider other cryptocurrencies besides Bitcoin but, Bitcoin consumes an important part of these extra-legal transactions. Many coins including Monero and EOS offer users the possibility of anonymous transactions and they do it better than Bitcoin. However, these coins have liquidity problems. The infant said they have methods to track even untraceable coins. Traffickers and money launders exchange bitcoins with fiat coins in peer-to-peer and over the counter exchanges, and also pass through major US stock exchanges.

Infante goes on to say that many illicit transactions can be anticipated in the future. " The blockchain actually provides us with many tools to be able to identify people & # 39; & # 39 ;." In reality I want them to continue to use them "he said

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