Rémi Quirion, Chief Scientiest of Quebec, has released a fact check on BTC earlier this week. The release examines whether our favorite digital currency is a really only used for money laundering and other types of criminal activities since many of the ‘nocoiners‘ like to state so.

“Bitcoin is not above the law, nor is it a magnet for illicit transactions: it forms only a tiny part of the criminal money circulating around the planet. The reason: it is less attractive for anyone who wants to make transactions without leaving a trace” expressed the Chief originally in French.

His words are just another reassurance that Bitcoin is technically not anonymous at all. On the contrary, it is already proven that governments and organisations like Europol/Interpol have successfully traced down illegal activities that facilitated BTC payment, both addresses and transactions could be identified as well. Of course there are anonymous cryptocurrencies that are much more feasible for such activities, for instance Monero, DASH or Zcash.

Another study from earlier this year conducted by the Center for Sanctions and Illicit Finance of the Defense of Democracies Foundation that illicit activities accounted for just 0.61 percent of money entering cryptocurrency in any way, including exchange or conversion platforms, with data gained from a 4 year perioud. To top this, the percentage has actually fallen from 1.07 percent in 2013 to just 0.12 percent in 2016.

The report made sure to mention that BTC and its markets are not unregulated wild-wild-west type of markets anymore, or at least not going to be for too long. Many governments are already making these digital assets subjects to its regulations in order to make it available for mass adoption. For instance in Quebec, the county where the report was conducted, it is impossible for companies to operate a cryptocurrency exchange without acquiring a business license beforehand.