Too Long; Didn't Read
Bitcoin has long had a reputation for being a space inhabited by thieves, hackers, money launderers, drug dealers and other criminals. Much criminal activity has been able to thrive thanks to the anonymity and lack of regulation afforded by cryptocurrency. As the market cap of crypto has increased, more and more scrutiny has been brought on the space. This scrutiny has meant that users' anonymity is not the implicit necessity that it once was. A report published by Chainalysis in 2021 found that just 2.1% of all cryptocurrency transaction volume was used for criminal activity in 2019.