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Crypto Markets Entangled With $100B In Illicit Funds Since 2019: Report

Fresh data by on-chain analytics firm Chainalysis found that nine figures worth of illicit funds have found their way into the digital asset space.

What Happened: Nearly $100 billion in illegal funds have circulated through the cryptocurrency market since 2019, according to Bloomberg, citing a Chainalysis study. This includes significant use of stablecoins and centralized exchanges. The former is increasingly used by bad actors and now represent the majority of illicit transaction volumes in the crypto space. Over half of these questionable funds end up on centralized exchanges, the study found.

Global authorities are tightening regulations on stablecoins and digital-asset platforms to…

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