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Crypto Crime Sees a Sharp Decline in First Half of 2023, Bitcoin Price Shoots Up

Bitcoin has surged 79% this year, marking a positive turn for the cryptocurrency industry. Crime rates in the crypto space have also dropped significantly, with a 65% decrease in flows to known illicit entities and a 42% decrease in inflows to risky entities. However, ransomware attacks remain a threat, with losses of at least $449.1 million through June this year.

The Federal Reserve has released more details on its crypto monitoring program for banks, which could open up crypto to broader adoption and create opportunities for future growth. Overall, the positive outlook for crypto is supported by an increase in activity in the derivatives market and the recognition of the industry's potential by the US central bank.

Bitcoin Bitcoin $62,070.81
+2.34%
Bitcoin Federal Reserve
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