Ripple's Chief Legal Officer Stuart Alderoty has criticized U.S. regulators for unfairly targeting the crypto industry in money laundering investigations while allowing traditional banks to go unnoticed.

🔍 In a recent post on X, Alderoty pointed out the role of the Federal Reserve Bank of New York in enabling large-scale illicit transfers, including those linked to terrorist groups.

📊 According to data, less than 1% of crypto transactions are related to illegal activities, in contrast to the $800 billion to $2 trillion annually laundered through the traditional financial system.

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