Being a nationless asset unrestricted by national boundaries or even numerous regulations, digital currency has had a longstanding reputation as a sanctuary for wrongdoers. However, its absence of ties to any specific government also attracted law-abiding users. This dynamic may be shifting as authorities improve their ability to track transactions on the blockchain. Notably, Joe Weisenthal of Bloomberg argues that cryptocurrency is no longer very effective for engaging in illicit activities, which ironically implies that its utility as a resource for marginalized groups is equally constrained. Subsequently, Beth Bisbee, the US investigations director at Chainalysis, and Sujit Raman, the chief legal officer at TRM Labs and a former federal litigator, disclose the current activities of crypto-criminals and how this digital asset is currently being leveraged to subvert US foreign policy.
Tune in to Cryptocurrency In Real Life every Friday at 8 p.m. EST on Bloomberg Quicktake, and at 8:30 p.m. on Bloomberg TV. The show is also available for live streaming at www.bloomberg.com/qt.
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