Cryptocurrencies Aren’t The Ideal Gateway For Black-Money Hoarders


While law enforcement and tax agencies continue to claim that criminals transacting in cryptocurrencies create obstacles in their investigations because tracking this money on the internet and beyond a country’s borders is impossible, rumor has it that they are working behind the scenes on AI crawlers that will collect data from blockchain ledgers to trace and connect accounts to individuals by the end of 2021.

Because the bitcoin ledger is public and each transaction record is traceable with artificial technology crawlers, transactions may be linked to accounts and then to their holders and owners over time.

The transparency of blockchain transaction ledger records certainly isn’t assisting anyone who want to deal anonymously and may face legal punishment in the future for hiding cash or black-money in cryptocurrency.

There are more efficient and wiser ways to get the task done; bitcoins are no longer used for that purpose. You will be defeated!

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