The amount of crypto value received by illicit entities in 2022 so far is less than the same period in both 2019 and 2021. Are privacy coins attributing to this drop in value, or are authorities getting better? gckaloudis reports for SinWeek:
Total amount of cryptocurrency value tied to illicit activities
That’s not really the point, however. The truth is that cryptocurrencies do still enable illicit activity, and the amount used grew between 2020 and 2021. In defense of crypto, the illicit share of all crypto transaction volume has fallen since 2019 and is at a scant 0.15% now.So while the amount of illicit activity being funded through crypto is growing, the growth of legitimate crypto uses is far outpacing it.
So, instead, we should take a look at the thing that cryptocurrency supposedly supports in a unique way: the aforementioned “drug dealers and black market participants.”Dark web markets, the corner of the internet where illegal activity abounds, set a new revenue record in 2021, bringing in a total of $2.1 billion in cryptocurrency.
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