The phrase "illicit transactions" refers to secret or illegal activities involving the buying, selling, or exchanging of items or services that are against the law or prohibited by authorities. Full definition
It is true that the daddy of cryptocurrency can be used for all manner of illicit transactions, but an interesting phenomenon is now occurring. (bitcoinist.com)
The government noted that the odds of bitcoin becoming legal tender are rather low because the virtual currency is currently used for illicit transactions and drug deals in different regions of the world. (pfhub.com)
While bitcoin has been associated with illicit transactions, estimates of the proportion of the digital currency used in illegal activities vary. (cnbc.com)