Fiat, a government-issued currency, is still the best choice of financial criminals.
Concerns have always centered on the possibility of crypto assets being used for nefarious reasons, however the US Treasury department just released something that dispels these anxieties.
Despite widespread fears that cryptocurrency could be used for criminal purposes, a newly published report by the US Treasury indicates that the bulk of financial crimes are still committed using fiat money.
The US Treasury presented a three-year report on money laundering, proliferation financing, and terrorist financing early this month. And they were all based on digital assets.
And crypto detractors may believe this is all about digital assets being widely employed in these sectors.
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It’s Fiat, Not Crypto
Nevertheless, fiat currencies and traditional money are still more often utilized in this circumstance, thus they are more likely to come into play.
The Treasury’s findings ..
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