Between 2020 and 2024, U.S. Banks were found to have laundered 312 billion USD for Chinese money launderers, highlighting connections to Mexican drug cartels. Data from the Financial Crimes Enforcement Network shows an average of 62 billion USD per year passed through the banking system.
Despite significant findings indicating minimal involvement of cryptocurrency in money laundering, critics, including Senator Elizabeth Warren, persistently advocate for stringent regulations against crypto. Their focus comes amid evidence revealing that most money laundering is unrelated to cryptocurrency.
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