How Law Enforcement is Cracking Down on Crypto-Crime

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The market on cryptocurrency has grown by an incredibly substantial amount over the course of the past year or so with returns on investments coming back in the tens or even hundreds of percents. The history of cryptocurrency is however marked by a large amount of crime and black market use, but this may soon be coming to an end as several governments are attempting to curb it.


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The nature of cryptocurrency is the fact that it is an anonymous system that is also decentralized. The anonymity is essentially a breeding ground for use in the criminal system. Many criminals have turned to cryptocurrency for the purpose of money laundering or selling illicit substances online. The other reason that many turn to cryptocurrency is for the purpose of tax evasion. Since the government cannot really track buys and sells of the cryptocurrency network, many individuals use it to keep their money so that they don’t have to pay taxes on income or gains. This system has led to a massive cat and mouse game between law enforcement and those using the currencies.


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Criminals are continuing to find new ways to evade law enforcement, and governments are finding new ways to curb this type of crime. The increasing amount of innovation in the cryptocurrency and blockchain area has led to a legitimization of the system for use as a currency and transfer of money. This legitimization means that the amount of money being used for crime, is lower when compared to those using it for investment or money holding purposes. The hopes are high that this type of crime can slow down, and the driving factors behind cryptocurrencies innovative tactics can remain as a new financial system with a large amount of potential.

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