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US Dollar (Not Bitcoin) Is King of Money Laundering: Messari Research

by Daily Hodl Staff
July 22, 2019
in Bitcoin

[the_ad id=”36860″]

New research shows US dollars are far outpacing Bitcoin when it comes to illicit use of the two currencies.

According to the crypto research firm Messari, $800 in cash is laundered for every $1 worth of BTC that is spent on the dark web.

Messari used data from Chainalysis and the United Nations Office on Drugs and Crime for the comparison.

Source: Messari

The chart analysis follows recent comments from US Treasury Secretary Steven Mnuchin, who recently stunned CNBC anchor Joe Kernen by saying cash is not used for money laundering, drug trade and other illegal activities.

[the_ad id=”36860″]

Mnuchin stated,

“I don’t think it’s been successfully done with cash, I’ll push back on that.

We’re going to make sure that Bitcoin doesn’t become the equivalent of Swiss-numbered bank accounts, which were obviously a real risk to the financial system.”

"the existing system has never been used for illicit activities but we're going to make sure crypto is isn't used for illicit activities like the current system." Got it. https://t.co/G54Zoa9cOF

— Joe Kernen (@JoeSquawk) July 18, 2019

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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