A Chainalysis report reveals a significant insight: 99.6% of cryptocurrency transactions in 2023 were legal, debunking misconceptions about widespread illicit use. Illicit transactions dropped to 0.34% of total volume, contrasting sharply with claims by figures like JPMorgan CEO Jamie Dimon. In comparison, the broader financial industry saw over $3.1 trillion in illicit funds. The report also notes a shift from Bitcoin to stablecoins in both legitimate and illicit crypto activities.
