The US Department of the Treasury has reported a sharp increase in the use of Bitcoin for illegal activities, notably human trafficking and child sexual exploitation.
This analysis, drawing from financial firms' government filings in 2020 and 2021, highlights the dark side of cryptocurrency's growth.
The findings reflect a concerning trend, underscoring the need for more stringent regulations and monitoring to mitigate the use of digital currencies in unlawful transactions.
As cryptocurrencies continue to gain popularity, the challenge remains in balancing innovation with the prevention of their misuse in criminal endeavors.