I wonder to what degree this is related to the prevalence of organized crime (Bitcoin being a 'currency' of the black market).
Key points:
- 0.34% of tx in 2020 were illicit - Of that 0.34% it is almost all scams and darknet market tx
In 2021, the large darknet markets either only accept Monero or accept BTC and Monero. Large ransomware gangs like DarkSide prefer Monero (they offer discounts for it). It's reasonable to assume that the percentage of BTC tx that are illicit are even lower as Monero assumes more of the activity.
BTC is not a 'currency' of the black markets.
- https://blog.chainalysis.com/reports/2021-crypto-crime-repor...
Drug dealers making $1m a month can go directly to the bank and have it laundered haven't you read the news?