News, Editorials & Opinions

Report: Less Than 1% of Bitcoin Used for Illegal Purposes
Apr 17, 2018
 

A report released by The Foundation for Defense of Democracies found that less than one percent of Bitcoin is used for illegal purposes. Law enforcement found six websites offering fentanyl and all of them listed Bitcoin as the preferred method of payment. “Because it’s anonymous, it’s the currency of choice for these drug traffickers,” said Ohio

Republican Rob Portman, head of a Senate committee investigating the matter. Attorney General Jeff Sessions has called the use of Bitcoin on the dark web “a big problem.” Most cryptocurrency advocates dismiss the argument that Bitcoin is a problem. “Blaming Bitcoin for this crisis would make as much sense as blaming the internet or cars that drug traffickers have to use”, said Perianne Boring, president of the Chamber of Digital Commerce.

Source: NewsBTC (https://www.newsbtc.com/2018/04/17/report-less-1-bitcoin-used-illegal-purposes/)

Start a free trial today. No credit card required.

 

Free Trial