Cody Carbone Says UN Says 2.5% Used in Elicit Finance
Portfolio Pulse from Benzinga Newsdesk
Cody Carbone discussed the use of cryptocurrencies in illicit finance, noting that the UN estimates only 2.5% of crypto is used for such purposes. The discussion took place during the Benzinga Fintech Awards event, which was live-streamed.
November 14, 2023 | 3:15 pm
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POSITIVE IMPACT
The UN's estimate that only 2.5% of Bitcoin is used for illicit finance could positively influence the perception of Bitcoin's legitimacy and its adoption.
The low percentage of illicit use as reported by the UN may reduce regulatory concerns and improve public perception, which could lead to increased investor confidence and demand for Bitcoin.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The UN's estimate that only 2.5% of Ethereum is used for illicit finance could positively impact Ethereum's reputation and encourage broader acceptance.
The UN's low estimate of illicit activities involving Ethereum may alleviate some regulatory and ethical concerns, potentially leading to more institutional and retail investment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70