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Cash Is Still Preferred By Criminals

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2 days ago

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Steve D’Antuono, FBI Chief of Financial Crimes affirmed to CNBC that the that the two major crime influxes were in ICOs and the dark web.

According to him, crimes and frauds using cryptos increased last year when the crypto markets had surged significantly:

“These crimes will be stopped. It is just like the invention of the computer some 20 years back. A lot of us did not have any idea how to deal with cybercrimes then but we learned and adapted. That’s what is happening right now, we are slowly assembling the jigsaw to quash all cryptocurrency related crimes.”

But criminals still need fiat currency because they will convert the illegal digital assets back to cash for transactions, which make them more easily traceable.

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