Out of $1 Trillion Crypto Transactions, only 1% are Illicit
Chinalalysis webinar on 5th March, Cryptocurrency growth and excitement in 2019 showed virtual currencies empowerment. Use of cryptocurrencies by global community took place as worth $1trillion crypto transactions and only 1.1% of them was illicit.
More and more users are preferring and adopting virtual currencies as a new way for business. Cryptocurrency use cases and adoption are growing fastly worldwide. Percentage of illicit crypto transactions shows that crypto that the industry is trusted and healthy than earlier days when darknet market was ruling.
More exchanges entering the cryptocurrency market, the targets for crypto hackers has increased however the criminal’s success rate has decreased. Almost $1 billion dollars crypto currency got away by criminals ever since 2018.
Not only the implementation of more secure and sophisticated parameters but also with the help of law enforcement agencies and industry-wide coordination and corporation the cryptocurrency space becomes more secure. The enforcement agencies helped client DragonEX recover some stolen funds.
Only 70 days left for halving, Most of the newly fresh mined coins are straightly going to exchanges. If miners decide to send new coins directly to the exchanges it will not make big selloff because the mining reward is decreased by half of its value.
This week is very good for Bitcoin and the crypto community. The Supreme Court of India has lifted the ban of Reserve Bank of India (RBI) on Bitcoin. Now the Indian cryptocurrency exchanges and investors can buy and sell Bitcoin and cryptocurrencies with their bank.
The amendment to the Special Reporting Act passed in South Korea by which cryptocurrency becomes fully legal in the country, reported on 05 March 2020. Bitcoin becomes the legal form of money in France, reported on 06 March 2020. According to the report, The French Court acknowledged the Bitcoin in February while doing a decision regarding cryptocurrencies that was made public today.
