According to a recent report by the Crypto Information Sharing and Analysis Center (ISAC), cash continues to be the preferred medium for criminals in 2024, significantly outpacing the use of cryptocurrencies in illegal activities.
The report highlights that despite cryptocurrencies’ early association with criminal activities, such as those on the Silk Road, the actual numbers of crime involving crypto are minimal today. Cash remains the currency of choice for most illicit operations globally.
The authors of the report strongly assert that cryptocurrencies represent valuable assets for law-abiding citizens and are not inherently tied to crime. This shift in perception reflects the growing acceptance of digital currencies in legitimate settings.
While the early days of crypto were marred by its unsavory associations, the data suggests a transformation, with cash remaining the predominant choice for illicit transactions as of 2024. This trend indicates that the crypto space is evolving, distancing itself from its past reputation.
