Dirty money: Crypto v Banks

Tessa DempsterNovember 6, 2018
Money Laundering coincast-multiplier

The crypto market has aired its dirty laundry and as it turns out it’s ‘cleaner’ than traditional banks – on the laundering front at least.

According to a report by the United Nations Office on Drugs and Crime, in the last 24 months banks have reportedly laundered US$2.7 billion.

In contrast, the crypto market has laundered US$1.8B in the same period according to a recent report by CipherTrace.

Despite the negative perception of dirty money in crypto, the CipherTrace report revealed banks laundered US$1.97 trillion more in the space of two years.

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