PANews reported on August 17 that according to Decrypt, the latest report of the UK National Crime Agency shows that the amount of illegal cryptocurrency transactions related to the UK is as high as 5.1 billion US dollars each year, and digital and cryptocurrency-related crimes are increasing. The report stated: "Cryptocurrency remains an important driver of criminal transactions, used for money laundering, paying for goods and services on the dark web, and demanding ransoms. The public's legal use of cryptocurrencies also provides criminals with opportunities for fraud and theft." With the increase in cryptocurrency money laundering activities, the UK National Crime Agency estimates that illegal cryptocurrency transactions worth $1.7 billion to $5.1 billion are related to the UK each year. In addition, the report explained that "a large part" of the UK's money laundering activities are related to "corrupt overseas elites."
