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Biden's Treasury Nominee Yellen Says Cryptocurrencies Are Of "Particular Concern" For Terrorist Financing

Mary Liu

Summary: Criminal activity related to cryptocurrency has dropped significantly in 2020, from 2.1% in 2019  to  0.34% in 2020, according to Chainalysis's new report. One of the reasons for the decline in the percentage of criminal activity is that overall crypto-economic activity has nearly tripled between 2019 and 2020. However, Janet Yellen, the nominee for the ...

Criminal activity related to cryptocurrency has dropped significantly in 2020, from 2.1% in 2019  to  0.34% in 2020, according to Chainalysis's new report. One of the reasons for the decline in the percentage of criminal activity is that overall crypto-economic activity has nearly tripled between 2019 and 2020.

However, Janet Yellen, the nominee for the United States Secretary of the Treasury, said in today's hearing that cryptocurrencies like Bitcoin are of particular concern for terrorist financing, money laundering.

Chainalysis's report also mentioned that the anonymous feature of cryptocurrencies is a key attraction for criminals.

By Mary Liu

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Link: Biden's Treasury Nominee Yellen Says Cryptocurrencies Are Of "Particular Concern" For Terrorist Financing   [Copy]
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