Criminals don't use Cryptocurrencies - What a Nothing burgeer

Although i hate to do the i told you so speech......

Once again it is found that the Lamestream Media and the Government have been wrong all along.

A study conductted by tthe Europeon Union, has found that criminals actually have more desire to use their worthless fiat then they are to transact nefarious activities using Bitcoins or any of the Altcoins currently on the market. 

From the conclusion of the study

“few investigations have been conducted on virtual currencies which seem to be rarely used by criminal organisations. While they may have a high intent to use due to VCs characteristics (anonymity in particular), the level of capability is lower due to high technology required.” 

However, if you know government, nothing can be entirely complete without the added extras. The Study also mentioned that  Virtual currencies are an elevated risk hen it comes to money laundering and terrorist funding (very limited)

“The assessment of the [money laundering] threat related to virtual currencies shows that organised crime organisations may use virtual currencies to have access to "clean cash" (both cash in/out). When used, virtual currencies allow organised crime groups to access cash anonymously and hide the transaction trail.They may acquire private keys of the e-wallets or obtain some cash from ATM. However, cases are quite rare at this stage and few investigations have been undertaken concerning this risk scenario. One of the reasons is that the reliance on virtual currencies to launder proceeds of crime requires some technical expertise. According to LEAs, the amounts of money laundered via virtual currencies are quite low, which tends to demonstrate that criminals' intent to use them is rather limited because this modus operandi is not considered as attractive enough (in particular because of the volatility of the virtual currencies' market). From a technical point, virtual currencies present some commonalities with e-money but the IT expertise at stake for virtual currencies means that organised crime would have lower capability to use them than e-money which is more widely accepted.” 

i am guessing that this means all articles going forward, regarding Bitcoin and it's ties to criminality  will be abated.......

https://www.forbes.com/sites/jasonbloomberg/2017/03/28/bitcoin-blood-diamonds-of-the-digital-era/#5e672144492a

https://www.bloomberg.com/view/articles/2013-11-18/are-bitcoins-the-criminal-s-best-friend-

https://www.theguardian.com/technology/2017/may/15/digital-gold-why-hackers-love-bitcoin-ransomware

https://securityintelligence.com/isis-are-they-using-bitcoins-to-fund-criminal-activities/

http://www.newsbtc.com/2017/02/01/criminals-use-bitcoin-commit-tax-refund-fraud/

Or not......because who doesn't like to just make S*it up

I've also included a link to the study. All 200+ pages here.

 

If you enjoyed what you read and thought this information was valuable to you in any way. Then......... 

To Follow and Resteem if you felt this post was beneficial to you!! Happy Steeming