https://t.co/lemQ4Yq1XQ — BAAC (@BAAGlobal) December 19, 2019
In Frankfurt, Germany, Brainard highlighted the perceived risks, which still posed by cryptocurrencies. However, she was speaking as part of a panel honoring Benoît Coeuré, a member of the Executive Board of the European Central Bank (ECB).
“Only a third of the most popular exchanges require ID verification and proof of address to make a deposit or withdrawal. This is troubling, since a number of studies conclude that cryptocurrencies support a significant amount of illicit activity.”
“One study estimated that more than a quarter of bitcoin users and roughly half of bitcoin transactions, for example, are associated with illegal activity.”
As it has been reported, studies into transactions regularly produce opposing conclusions, others suggest that a lack of anonymity means genuine criminals still prefer cash.
Thus, further difficulties lie in stating that exactly how many people use Bitcoin, as a user can control an infinite number of addresses.