Money launderers and terrorists prefer fiat currencies over crypto - U.S. Treasury

over 1 year ago

Money launderers and terrorists prefer fiat currencies over crypto - U.S. Treasury

It feels good to know that no matter how the government and government bodies FUD crypto and call it all sorts of names, the United States Treasury has admitted on its own that money launderers and terrorists prefer the old traditional fiat currencies over crypto, my question now is this why do they still FUD Bitcoin and crypto by saying that they are only used by criminals when they know the truth along, But either way I am happy that they are no more lying to themselves on this matter, of criminals preferring Fiat currencies for they illegal business over cryptocurrencies.

Knowing what I know already, I still went a step further to do an extensive research on this topic about money launderers and terrorists preferring fiat currencies over crypto, I found out that as far back as 2020/2021 until date there have been a lot of articles out there that supports the motion of criminals preferring fiat currency than crypto to run their businesses but the government keeps blaming it on crypto. In my opinion, because the government does not like crypto and feels threatened by it that is why they keep discrediting crypto to chase people away from investing in crypto, making them feel that crypto is only used by criminals because of its decentralized nature.

Now, Despite rising concerns about cryptocurrencies being rampantly used by criminal activities such as money laundering, fiat is still way ahead in terms of being the preferred choice for illegal activities, claims a newly published report by the US Treasury Department. The federal department of the US government released three-yearly reports earlier this month, covering common criminal activities like money laundering, terrorist financing, and proliferation financing where the body notes that fiat currency and traditional networks are still far more commonly used than crypto in illicit finance. The facts above speak for themselves, so I do not need to say much.