Chainalysis said $22.2 billion was laundered via crypto in 2023, down from $31.5 billion the year before. The drop was steeper than the decrease in transaction volumes, suggesting that factors beyond just the general market downturn may have contributed to the reduction in illicit activity. The figures suggest that only about 1% of all money laundering is carried out with crypto. The value of all illicit funds laundered is about $2 trillion a year, Deloitte wrote in a June 2023 report.

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