Binance: 'Crypto's share in money laundering is 10%, lower than real estate, cash'

Binance: 'Crypto's share in money laundering is 10%, lower than real estate, cash'

**Binance: Crypto's Role in Money Laundering** A recent statement from Binance, the world's largest cryptocurrency exchange, claims that the share of cryptocurrencies in money laundering activities is only 10%. This figure is significantly lower than the proportions attributed to real estate and cash. Binance's assertion is based on an analysis of data from Chainalysis, a blockchain data platform. The analysis revealed that only 1% of all cryptocurrency transactions in 2022 were related to illicit activities, with money laundering accounting for the majority of these. **Comparison to Other Assets** Binance's findings contrast with the perception that cryptocurrencies are a haven for money laundering. In comparison, studies have estimated that the share of real estate in money laundering ranges from 15% to 30%, while cash is estimated to account for up to 50%. **Impact on Crypto Regulation** Binance's statement may influence regulatory discussions surrounding cryptocurrencies. Lawmakers have been considering stricter regulations to curb money laundering and other illegal activities involving crypto. Binance's data suggests that cryptocurrencies may pose a lower risk than previously believed, which could potentially lead to more balanced regulatory approaches. --- Previously on April 24, 2024: Binance Announces New Features to Enhance User Security