While speaking to Bloomberg on Monday, Sonnenshein said that individuals who understand how digital assets work know that bitcoin is “probably the worst mechanism” for illegal financial activities. According to the CEO, every transaction leaves a trace that could be collected, analyzed, and tracked by law enforcement agencies.
As reported by BTC PEERS, contrary to what most regulators think, the percentage of fiat currencies used for illicit transactions dwarf its crypto counterpart.
Sonnenshein opines that if regulators do not understand cryptocurrencies and their underlying technology, blockchain, they will constantly implement rules that will stiffen the growth of the sector.
He said this following a $1 million donation to CoinCenter on Monday. The not-for-profit firm focuses on “policy issues facing cryptocurrencies”. Commenting on the firm’s mission, Sonnenshein said:
Continue reading on BTC Peers
Source: Cryptocurrency - investing.com
