90% of ICOs being scams, seems too much.
Even if we assume 90% of ICOS were a scam, then the 10% remaining (the serious and highly appealing and capitalized projects) will have raised most of the money, let’s say 90% of the money, so only $600M were involved in scams, assuming your original $6B figure is right.
$600M still sounds like a stretch, though…Probably the number is much smaller.
A scam is not an illicit transaction as you are not participating willingly in it.
An illicit transaction would be an illegal one, where both parties are willingly and knowingly engaging on it, such as buying illegal drugs, prohibited firearms, contracting a murder hit ojn someone, etc, etc, etc,…imagination is the only limit here…
My point being that ICO fraud is not included under the illicit activities category. I guess it would sit under the fraud or scam category…
Not as anonymous as people think. It is a ledger for life and where there is data and money transactions, there are always fingerprints, traces and a way to track back. Crypto forensics is a thing and it will only get bigger in the next years.
FIAT cash is by far, much more anonymous than bitcoin transactions.FIAT is also the real deal for illicit transactions, money laundering and a criminal favorite worldwide.