Today a SWIFT investigation comes to the crypto community that may break the paradigm of many: No, crypto does not have as exaggerated a role in money laundering as many think.
Crypto is not a favorite for money laundering
Among the arguments of a person who is against crypto we have: Volatility and the ability to be used for illicit purposes.
Both elements are widely debatable, but we will focus on the second. Cryptocurrencies are used for illicit purposes, but their role may not really be that important.
SWIFT’s report notes that “The identified cases of laundering through cryptocurrencies remain relatively small compared to the volumes of cash laundered through traditional methods”.
However, SWIFT noted that the use of crypto for money laundering will increase in the future.
Hackers hijack Call of Duty player accounts and ask for Bitcoin
Motherboard reported today that hackers have seized players’ Call of Duty: Warzone accounts and are demanding Bitcoin to return the accounts.
For those who don’t know, Activision Blizzard’s Call of Duty: Warzone has been one of the biggest games of the year. While the game is free, players can access items through cash.
Consequently, some accounts have become an investment of time and money for many players and are therefore the target of hackers.
However, once again cryptos, specifically Bitcoin, have been entangled in these types of situations.
Bitcoin Hash Rate Hits New High
According to data released by Glassnode, Bitcoin’s hash rate has reached a new all-time high.
This could have an impact on the price of Bitcoin, in particular, due to the possible reaction of miners to the increase in the hash rate. However, the correlation between the price of the crypto and the hash rate is not very faithful.
Crypto derivatives volume increases
CryptoCompare noted in its report that it observed an increase in the volume of crypto derivatives over the past month.
Thus, according to the report, in August the monthly volume of transactions reached $ 712 billion, surpassing the record of May 2020.
Binance adds new payment methods for Argentina
Binance has announced the incorporation of three new payment methods for its users in Argentina allowing them to buy or sell crypto using their accounts at Mercado Pago, Uala and Banco Brubank.
Without a doubt, the crypto exchange has been opening the doors to a potentially important market in Latin America.
In a few lines …
- Brave Browser ad have created an anti-phishing technology for your web browser.
- Major DeFi projects don’t see Ethereum losing dominance of the sector anytime soon, Crypto Compare said.
- The official Looney Tunes account tweeted about Bitcoin today.
- Significant volatility was observed in Binance Coin transactions today.
- Son of Peter Schiff keep going buying more crypto, specifically Bitcoin.