Stop The Bitcoin FUD: Criminal Cryptocurrency Transactions Are Falling
Despite a 2020 that saw the price of bitcoin rise to all-time highs and set new records for stability, it isn’t too difficult to find Bitcoin FUD being spread. But recently released blockchain analysis demonstrates that the “bitcoin is for criminals” narrative is weaker than ever. The FUD Keeps Coming Yesterday, Janet Yellen, the incoming nominee for U.S. treasury secretary, highlighted a common narrative that many believe shines an unfair light on the original cryptocurrency, suggesting that the government will try and regulate its use. “I think many [cryptocurrencies] are used — at least....
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Gartner, an advisory firm, has predicted that criminal cryptocurrency transactions or transfers will fall by 30% by 2024. The firm says factors such as the transparency of the blockchain, as well as the democratization of fraud prevention tools, will contribute to this decline in such transactions. Blockchain Transparency Despite the surge in the value of crypto-related crimes recorded in the past year, Gartner, a business advisory firm, predicts that “successful cryptocurrency thefts and ransomware payments will drop by 30%” in two years’ time. According to Gartner,....
Litecoin once again jumped over the barrier of $3.20 and then again moves down to the level of $3.00. As Bitcoin price movement has stopped, the falling of Litecoin to the level of $3.00 promises to be painfully slow, and to take some days. Only new growth of Bitcoin will be able to develop an uptrend of Litecoin and to send it to the tops of $3.50 and $3.80. DASH keeps second place on trade volumes at the Poloniex exchange. The price of this cryptocurrency moves in a corridor between 0.01 and 0.011. But it is still in a falling trend, the top of it is still the level of 0.017. But it....
Cryptocurrency intelligence firm Ciphertrace has filed two patent applications for tools and systems to trace monero transactions. The company aims to enable the detection of criminal uses of privacy coins like monero. Monero Tracing Patents Blockchain analytics and cryptocurrency intelligence firm Ciphertrace announced Friday that it has filed two monero tracing patents. One patent is called “Techniques and Probabilistic Methods for Tracing Monero” and the other is “Systems and Methods for Investigating Monero.” They two patents cover a number of areas, including....
The new US Treasury Secretary Janet Yellen’s recent negative comments about Bitcoin and crypto have revolved around alleged “illicit use.” However, data from a top blockchain analysis firm claims that under 1% of all cryptocurrency transactions are related to criminal activity. Here’s why the former Federal Reserve Chair’s assumptions about the digital asset class are way off base. Under 1% of Crypto Transactions Are Tied To Illicit Use Bitcoin is an asset and currency unlike anything […]
The U.S. government is expanding its cryptocurrency analysis in a strategy to find and pursue criminal transactions. This comes in the wake of a rising problem of ransomware involving cryptocurrency, such as bitcoin. “Combating ransomware is a priority for the administration,” said a spokesperson for the White House. US Government to Expand Cryptocurrency Analysis The Biden administration unveiled its strategy to combat cryptocurrency ransomware in a White House press briefing Tuesday. “Combating ransomware is a priority for the administration,” White House....