> Michael Morell, who was previously the CIA’s acting director, said in ‘An Analysis of Bitcoin’s Use in Illicit Finance’ that “blockchain
technology is a powerful but underutilized forensic tool for governments to identify illicit activity and bring criminals to justice.”
> Tracking illicit Bitcoin transactions is therefore easier than tracing illegal funds moved across borders using “traditional banking transactions” and “far easier” than trying to follow cash, according to the report.
> One source in the report was quoted saying that “if all criminals used blockchain, we could wipe out illicit financial activity.”
TL;DR cash is a better tool for crime according to an ex CIA director
https://decrypt.co/66411/cia-bitcoin-surveillance
> Michael Morell, who was previously the CIA’s acting director, said in ‘An Analysis of Bitcoin’s Use in Illicit Finance’ that “blockchain technology is a powerful but underutilized forensic tool for governments to identify illicit activity and bring criminals to justice.”
> Tracking illicit Bitcoin transactions is therefore easier than tracing illegal funds moved across borders using “traditional banking transactions” and “far easier” than trying to follow cash, according to the report.
> One source in the report was quoted saying that “if all criminals used blockchain, we could wipe out illicit financial activity.”
TL;DR cash is a better tool for crime according to an ex CIA director