Binance and Huobi received over 52% of all illegal BTC transactions
The results of the Chainalysis analytical agency, which recently examined the flow of bitcoin transactions related to illegal activity, were not very positive for the Binance and Huobi exchanges. A US-based New York-based company said Binance and Huobi received 27.6% in 2019, respectively. 24.7% (ie a total of 52%) of all illegal activities identified by BTC transactions, while other exchanges were responsible for the remaining 47.8%.
Chainalysis reports that Binance and Huobi received these BTCs from more than 300,000 different addresses, but only 810 addresses (less than one percent) were responsible for more than 75% of all illegal transfers.
“The problem is that, although most OTC brokers do legal business, some of them specialize in providing money laundering services to criminals. OTC brokers require fewer identity documents (KYCs) than the exchanges on which they operate. Many of them use this laxity and help criminals wash their money and pay it off. Usually in the form of BTC exchange for other cryptocurrencies such as Tether or another intermediary stable currency, before paying it directly to fiat ”the US agency said in its report.
Russia’s new Prime Minister appeals to the emergence of the digital economy
The Prime Minister of the Russian Federation, Mikchail Mishustin, appealed in the Russian Duma to the country’s earlier institutional reforms. Special emphasis was placed on modern information technologies, including the development of a national digital economy program. “The state should become a digital platform that will be created for people,” said a new man at the head of the Russian Parliament, replacing the resigning Dmitry Medvedev. The introduction of blockchain solutions should also be related to the digitization of Russia. For example, in December last year, Russia’s national energy network provider Rosetti began testing blockchain payments for the retail power industry. (cointelegraph.com)