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Many studies indicate that only a small percentage of cryptocurrencies are related to illegal transactions. This was stated by the ex-head of Coinbase, the current president of Figure Asiff Hirji at the RBC conference.
He emphasized that regulators apply strict standards to cryptocurrencies:
“If we apply the rules that are used today in relation to the regulation of cryptocurrencies to all global payment mechanisms, our money will become completely illegal. No country will allow the circulation of funds.”
Hirji also noted that crypto assets can significantly reduce transaction costs.
Recall, according to a study by ex-CIA officer Michael Morell, the extent of the use of bitcoin in illegal activities is greatly exaggerated.
According to Chainalysis, in 2020, the volume of crime-related transactions in cryptocurrencies decreased to 0.34%, and their share in the turnover of decentralized exchanges at the end of last year was 0.024%.
In 2021, crypto transactions using illegal addresses accounted for 0.15% of the total, analysts said.
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