The Dark Side of Cryptocurrencies

Salam Nahzat
Feb 22 · 7 min read

Cryptocurrencies aren’t immune from being used in illegal transactions because they offer anonymity. They are safe havens and magnets attracting those who want to hide their financial transactions. In fact, this dark side of cryptocurrencies is one reason many are hawkish and dismissive of cryptocurrencies. I’ve partly discussed such concerns in another article, Will Bitcoin Replace the US Dollar? But there’s also concerns about market manipulation as cryptocurrencies are traded as assets.

But just because cryptocurrencies are used in illegal transactions doesn’t mean we…