The argument against claims of crypto used for money laundering

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Adriaan Admin

Administrator
Staff member
Jan 30, 2018
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www.bitcoinforbeginners.io
#1
A very common argument used against crypto is that it is used for money laundering. Reports and news articles frequently come about to support those claims with numbers: one of the latest reports claims $2.35 billion worldwide. Well that sounds gigantic of course. However, those clickbait artists usually omit to mention that worldwide money laundering is estimated between $800 billion - $2 trillion:

That means that only between 0.12 - 0.29% of worldwide money laundering is done by using cryptocurrency!

This puts it in a whole different perspective obviously and in fact a much less relevant issue than some pessimists want to make it appear.

So whenever someone starts using the money laundering argument and statistics, you'll have some counter statistics as well!