On top of this, cryptocurrencies have proven to be widely used for illegal transactions due to the fact that they are difficult to trace, following their anonymity. (danskebank.com)
Money laundering and funding of illegal transactions via these cryptocurrencies has been another area of concern for Indian regulators. (qz.com)
Because payments with it are essentially impossible to trace, a lot of its use case has been for buying and selling drugs and weapons and carrying out other illegal transactions. (vox.com)