Spending $1 of Bitcoin on the dark web can launder at least $800 of "stolen money"

According to a report from Messari.io, a well-known crypto data analysis website, for every $1 people spend on the dark web through Bitcoin, at least $800 in "stolen money" is laundered.
According to Ambcrypto, after the U.S. Treasury Department held a crypto-focused briefing on July 16, many people came to the conclusion that was in their best financial interest. However, as Steven Mnuchin linked Bitcoin to illegal activities, hardcore crypto enthusiasts directed their criticism at individuals. In order to get rid of this concept, Messari.io (a well-known cryptocurrency data analysis agency) released a detailed report comparing the role of fiat currency and Bitcoin, the world's leading cryptocurrency , in fraud incidents.

Source: Messari

In the report, titled “Bitcoin in the grand scheme of things,” Bitcoin’s contribution to illegal activity pales in comparison to the most powerful fiat institutions. The report claims that by combining data from Chainalysis and the United Nations Office on Drugs and Crime, it concluded that “for every $1 spent on Bitcoin on the dark web, at least $800 will be laundered.” While this finding may shock traditional financial giants, it is worth noting that Messari.io takes into account the total spending of BTC on the dark web, most of which are legitimate transfers.
Furthermore, a one-to-one comparison also shows that the global economy has seen an explosion in the narrow money (M1) stock (i.e. physical currency and digital assets). The European Union leads with a supply of 8.7 billion euros, which is currently 98% higher than the total supply of BTC expected at some point in 2020 (considering a BTC price of $10,000). The report also considers the balance sheet of the Federal Reserve System in 2009, the year BTC appeared. The report shows that the Federal Reserve's balance sheet shows a money issuance rate of 13,664%, while BTC only has $12 billion.
Most leaders in the cryptography field hope that the US government will allow the use of cryptocurrencies within the scope stipulated by the country's ruling government . However, the rest, with or without government support, remain optimistic about the future dominated by BTC. (Blockbeat)