The latest report from the EU Homeland Security Innovation Center, as mentioned by Decrypt, highlighted the potential misuse of Bitcoin Lightning Network and other second-layer solutions for criminal purposes. According to the report, technologies like token mixers, Monero, Zcash, Grin, Dash, and the cryptographic protocol Mimblewimble are also identified as tools that criminals could exploit to conceal data and transactions. Specifically, Mimblewimble, utilized by cryptocurrencies such as Grin, Beam, and Litecoin, poses challenges in tracking cryptocurrency transactions, contributing to the complexity faced by law enforcement agencies. The report underscores the necessity for regulatory actions to mitigate the risks linked with privacy-focused cryptocurrency technologies. It suggests that regulatory measures might act as a deterrent to criminal activities, despite concerns raised regarding the potential misuse of these technologies. The European Union expresses apprehension about the obstacles these technologies pose to law enforcement in monitoring transaction data.
EU Report on Cryptocurrency Technologies and Criminal Activities

by Giorgi Kostiuk
2 years ago

Other news
Understanding Dark Pools and Market Dynamics

Swing traders can benefit from understanding dark pools and the hidden mechanics of market dynamics.

The Strategic Advantage of Swing Trading

Swing trading leverages multiday inefficiencies in institutional order flow, providing a capital-efficient alternative to day trading.

Moonberg Introduces QuantFi at World Economic Forum

Moonberg has launched QuantFi, a no-code quantitative trading platform, at the World Economic Forum in Davos, aimed at democratizing access to crypto data for builders, traders, and AI agents.

Emergency Savings and Financial Planning Essential for Lagos Workers

Cowrywise emphasizes the importance of emergency savings and strategic financial planning for young professionals in Lagos.

PepeNode Simplifies Staking for Everyday Users

PepeNode is creating user-friendly validator node software to make staking accessible to non-technical users.

Cardano's Open Interest Plummets as Crypto Market Faces Selloff

Cardano's open interest has dropped to 607 million, an 8% decrease, as the crypto market faces a selloff, with its price falling to 0.3274.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter