Europol has issued this report, saying that the use of cryptocurrency as part of criminal schemes is increasing and the uptake of this payment medium accelerating. However, the overall number and value of cryptocurrency transactions related to criminal activities still represents only a limited share of the criminal economy when compared to cash and other forms of transactions. The criminal use of cryptocurrency is no longer primarily confined to cybercrime activities, but now relates to all types of crime that require the transmission of monetary value. The illicit use of cryptocurrencies is predominantly associated with money laundering purposes, the (online) trade of illicit goods and services, and fraud. The regulations governing the use of cryptocurrencies and the associated AML frameworks are becoming more effective.
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