An official from the US Federal Reserve considers that half of Bitcoin users are criminals.
Lael Brainard stated all the dangers that cryptocurrencies yet can bring in her remarks delivered on 18 December in Germany. She was speaking as part of a panel honoring Benoît Coeuré, a member of the governing board of the ECB.
According to Brainard's speech, reports are still indicating that Bitcoin contains an enormous spiteful user base. She told the presents that only a little part of the most prosperous exchanges demand verification of ID and proof of address for making transactions. That is very bothering, as many recent investigations concluded that there is a notable amount of illegal motion performed by cryptocurrencies.
She mentioned that almost 50% of all BTC transactions were handled against the law in some form.
Her words were directed to all-embracing new crypto regulations developing into a force in the EU. For his part, Coeuré has continued to be extremely critical of the leading crypto coin, earlier defining it as the “evil spawn of the economic crisis.”