Cryptocurrencies Do Not Serve Crime


Contrary to popular belief, cryptocurrencies do not facilitate money laundering or the transit of illicit money from one place to another. The recent arrests and prosecutions of people in charge of websites that provide services for the sale and purchase of cryptocurrencies anonymously as Bitcoin mixers (Bitcoin Fog and Helix) demonstrate this. As mentioned by Sarah Meiklejohn, published by Wired, “With blockchain analytics, the thing we say over and over is that all this activity is on this ledger forever, and if you did something bad ten years ago, you could be caught and arrested for it today.”


In this way, once the public key has been identified, the wallet owner is known, tracking all its transactions is possible thanks to the record kept in the blockchain as an information integrity mechanism—an anonymous form not so anonymous after all.


ULand, information of interest about the crypto world

Author 2021-07-03