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Crypto Money Laundering Dropped 30% Last Year, According to Chainalysis
According to Chainalysis, $22.2 billion was laundered through cryptocurrencies in 2023, down from $31.5 billion the previous year. The decline was more pronounced than the decline in transaction volumes, suggesting that factors other than just the general market slowdown may have contributed to the reduction in illicit activity. The figures suggest that only about 1% of all money laundering is conducted with cryptocurrencies. The value of all illicit funds laundered amounts to about $2 trillion annually, Deloitte wrote in a June 2023 report.