Sentences with phrase «illicit use of virtual currency»

Law enforcement officials may face particular challenges when investigating the illicit use of virtual currency.

Not exact matches

The closure of Silk Road in October, the online marketplace that allegedly allowed more than a billion dollars of illegal drugs and illicit services to be bought using the virtual currency, is cited as another major driver.

Widespread adoption of virtual currency is hindered by anti-money laundering and illicit trade concerns, as well as volatility, ease of use obstacles, and a lack of basic trust.

Levin is the cofounder of Chainalysis, a startup that tracks virtual currency movement and investigates illicit use.

«We know that a range of virtual currencies including bitcoin are used as payment methods to facilitate illicit trade on the darknet.

While there are many benefits of bitcoin and other cryptocurrencies, there have been quite a number of cases of drug lords using these blockchain - based virtual currencies to facilitate their illicit deals on the Dark Net.