Asian Angle | Safer than cash? The real risks cryptocurrency poses to Southeast Asia
He made a powerful comparison: only 0.15 per cent of crypto volume is linked to illicit activity, which he said was 30 times less than the 5 per cent rate found in the traditional banking sector. But the reality is quite different and underscores the need for stricter regulation of crypto assets.
Based on his claim, Zhao argued that global law enforcement should encourage greater use of cryptocurrency, on the grounds that “it’s more transparent and easier to track”. He is not alone. Others in the crypto industry echo these talking points, even framing government action against crypto-related crime as overzealous or misdirected.
Whether crypto transactions are genuinely safer than their traditional counterparts is a question with…
