Cryptocurrency Is Harder to Launder Than Fiat Currency

One of the most loved arguments of main stream media (which is IMO the real source of fake news today) is how cryptocurrencies are being used for money laundering, as if the USD and all other FIAT currency were never used for it right? ah ah.

I'm posting a link to an interesting article worth mentioning because it explains how after the case of the $400 million of NEM stolen from Coincheck last week shows, laundering huge amounts of cryptocurrency can be surprisingly hard.

Due to the transparency of the blockchain the thieves are getting blacklisted on many exchanges thus having a hard time to move and launder the stolen coins.

I believe fungibility (shortly, good or asset's interchangeability) is a very important property of money, so ultimately the perfect cryptocurrency would be difficult to track too, but for the time being, except rare occasion, probably more than 95%+ of the cryptocurrencies currently on the market are very transparent on their blockchains so the argument of money laundering, although there are obviously instances of it in the crypto market too, compared to FIAT currency really sounds like a cheap excuse ...

Here is the link, enjoy!

Photo by Delaney Turner on Unsplash.com