Latest Updates In Ethereum And Bitcoin –Europol issued a warning about the increasing use of Bitcoin in ransomware attacks across Europe.
The agency cited a surge in cybercrime, with criminals demanding BTC payments for unlocking data or funding illicit activities like terrorism.
This has prompted calls for stricter regulations on crypto exchanges to enhance KYC/AML compliance and curb anonymous transactions.
Bitcoin’s $2.22 trillion market cap and pseudonymous nature make it attractive for illicit use, with TRM Labs estimating 1% of BTC transactions involve criminal activity.
Europol’s report follows high-profile hacks, like the Nobitex breach, where stolen Bitcoin was laundered through mixers.
The agency urged exchanges like Binance and Kraken to implement robust monitoring, aligning with the EU’s MiCA framework, which regulates crypto assets.
There's an urgency of addressing Bitcoin’s misuse, with Europol noting that ransomware payments in BTC doubled in 2024.
However, crypto advocates argue that cash remains a larger vehicle for illicit finance, and overregulation could stifle innovation.
The EU’s push for transparency contrasts with Bitcoin’s decentralized ethos, creating tension for exchanges operating globally.
The warning comes as Bitcoin hits $112,288, driven by ETF inflows and rate cut expectations.
While regulatory scrutiny could enhance trust, it risks pushing illicit activity to unregulated platforms, challenging Europe’s efforts to balance security and crypto growth.
