• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
OKEx Wash

Bitcoin Darknet Spending 800x Lower Than Fiat Money Laundering: Research

Anja van Oosterhout
by Anja van Oosterhout
6 years ago
·
Posted in News, Bitcoin, Bitcoin Businesses, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin contributes 800 times less value to the world’s money laundering total than fiat, new data suggests.


$1 in BTC, $800 in Fiat

The result of fresh research from analysis firm Messari, the giant figure adds to the increasing stack of evidence that cryptocurrency does not play a large role in illicit financial activity worldwide. 

According to Messari, which released its findings on July 16, for every $1 dollar in BTC spent on the darknet, $800 in fiat is laundered. 

The company said it decided to produce the statistics as a direct response to recent criticism of Bitcoin by politicians, specifically in the US, where Congress held several hearings dedicated to cryptocurrency last week. 

bitcoin

As Bitcoinist reported, testimony from lawmakers featured the full spectrum of cliches regarding Bitcoin, with naysayers repeatedly focusing on perceived criminal activity. 

Despite multiple research projects concluding the risk Bitcoin poses to financial stability due to money laundering is negligible, politicians continue to claim the threat is much larger. 

At Congress, it was Brad Sherman who threw his weight behind the argument, following in the footsteps of Treasury Secretary Steven Mnuchin and, previously, President Donald Trump.

Specific scorn came in for Facebook’s digital currency project, Libra, which Sherman claimed could even form the basis of a 9/11 style terrorist attack.

He said, 

If cryptocurrency is used to finance the next horrific terrorist attack, 100 lawyers standing in a row, charging $200,000 an hour, are not going to protect his rear end from the wrath of the American people

Rebutting Politicians’ Bitcoin Money Laundering Claims

Sherman fuelled a general backlash among the cryptocurrency industry on social media, with posts appearing which showed the extent of his and others’ misguidedness. 

The Congressman had claimed $76 billion was laundered in Bitcoin annually. Pierre Rochard, one of cryptocurrency’s more outspoken proponents, subsequently cited research from Blockchain firm Chainalysis, which conversely concluded the figure was tiny, with 2017’s total reaching just $660 million. 

Fellow commentator, Morgan Creek Digital co-founder Anthony Pompliano, noted that $2 trillion of USD is laundered per year – more than 6.5 times the entire cryptocurrency market cap. 

“Bitcoin will reduce money laundering globally, which is exactly why certain people and organizations are fighting it so hard,” he added.

Beyond the US, in India, where the concept of Bitcoin fuelling money laundering makes regular appearances in public literature, the tide also appears to be turning in government.

While an alleged draft law earlier this month contained details of a blanket ban on cryptocurrency, the country’s finance minister last week gave the opposite impression, confirming regulatory preparations were underway which would legitimize the industry.

What do you think about Messari’s latest data? Let us know in the comments below!


Images courtesy of Messari, Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anja van Oosterhout

Anja van Oosterhout

Follow

Full Profile

Related Posts

Tether wzmacnia rezerwy, kupując BTC warte miliard dolarów

Tether wzmacnia rezerwy, kupując BTC warte miliard dolarów

14 hours ago
Binance bitcoin

Binance Founder Triggers Bitcoin Bull Run Expectations With Cryptic Tweet

16 hours ago
Bitcoin

Historic Kimono Brand Changes Name To ‘Bitcoin Japan’ In Rebranding Move

1 day ago
crypto

Eric Adams, New York’s Crypto-Friendly Mayor, Won’t Seek 2nd Term

2 days ago
Bitcoin bull

Bitcoin Price Reaches ‘Critical Junction’: How A Rally To $139,000 Would Play Out

2 days ago
Bitcoin

Bitcoin Long-Term Holders Easing Off On Sales—What’s Happening?

3 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • най-добрите криптовалути

    Най-добрите криптовалути за...

    16 hours ago
  • As the Tapzi Fundraiser Continues to Generate Buzz, Could It Be One of This Year’s Best Crypto Presales?

    As the Tapzi Fundraiser Continues to Generate Buzz, Could...

    18 hours ago
  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    2 days ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    6 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.