Enthusiasts for cryptocurrency have long argued that it is unfair to characterize Bitcoin as a refuge for drug dealers and a money launderer. Now, thanks to the Agency, the U.S. Drug enforcement administration (DEA), they have a counter-argument to defend their position.
In an interview with Bloomberg, special agent DEA Lilita Infante has provided evidence that the share transaction, the first cryptocurrency in the criminal economy is only 10%, compared to a maximum of 90 percent in the era of the Silk Road (2013).
However, these figures do not mean that the cryptocurrency began to use fewer criminals to Fund their illegal activities. Infante noted that the volume of criminal activities “greatly increased”, but participation in them of Bitcoin is rapidly decreased as soon as the first cryptocurrency matured in the main asset class. According to her, illegal activity was replaced by another precedent — speculation.
“Over the past few years, the volume of the shadow market grew rapidly, the number of transactions increased, but the share of Bitcoin in them has decreased,” says Infante. “Most of the transactions are used for speculation on his own price.”
In an interview with Infante also noted that law enforcement can analyze the blockchain data to track criminal activity.
“The blockchain actually provides us with many tools, allowing to identify users,” she said. “I really want people to continue to use cryptocurrency”
Infante added that the anonymous crypto-currencies like Monero and zcash for, can be attractive alternatives, but they are currently too small and illiquid to be a viable payment tool for criminals. She also noted that DEA agents “have ways of” tracking these transactions, although not go into details about these methods.