Despite the widely held belief that crypto is a vehicle for illicit activities, criminals still prefer to deal in cash. This is according to a new report published by the Crypto Information Sharing and Analysis Center, or CryptoISAC, a not-for-profit organization that seeks to improve upon crypto and blockchain security challenges.
For a long time, crypto has been viewed as a shady industry that finances drug trafficking, terrorism, and other illegal activities, an opinion substantiated by the downfall of FTX and the Silk Road. New data collected by CryptoISAC and Merkle Science, however, suggests this conclusion may be unfair and that it is traditional financial systems that may be more conducive to criminal activity.
