US Drug Enforcement Administration (DEA) announced a significant decrease in the use of bitcoin in criminal activities.
They say that just 10% of all bitcoin transactions is related to crime, while the total volume of transactions has grown substantially, Bloomberg reports.
Lilita Infante, special agent of DEA says that in the last five years amount of legal bitcoin transactions has exceeded the illegal ones significally.
DEA obtained these results after the analysis of blockchain data analysis that the Administration initiated back in 2013 after noticing a significant increase of bitcoin usage in cases they have been investigating.
As of today just 10% of transactions are related to criminal activity, mostly bitcoin is just used for speculations.
Lilita Infante is also a member of the US Department of Justice’s Cybercrime Investigation unit that consists of 10 people and focuses on the darknet and investigation of cases where cryptocurrencies were involved.
Critics of bitcoin have been stating that criminals often choose cryptocurrency as an alternative to cash for money laundering and terrorist financing for quite a long time, but Lilita says this is far from the truth. She also states that coins with much less liquidity, like Monero or Zcash, that tend to give more anonymity to their holders are not a problem for the Investigation Unit and they’ll be able to cope with this challenge if needed.
“Blockchain actually gives us a lot of tools for people identification.
Frankly speaking I would prefer people to keep using the cryptocurrencies”, – Lilita says.