Coinbase: Illegal activity accounts for less than 1% of cryptocurrency transactions

Coinbase published a blog post saying that it has been proven that some of the views of Yellen, Buffett and others on cryptocurrencies are wrong.

One of the most common, yet false, notions about crypto is that it is primarily used by bad actors for illicit financing. In fact, research shows that illicit activity accounts for less than 1% of cryptocurrency transactions. Of that small portion, scams make up the vast majority of cryptocurrency-related crime, rather than money laundering, terrorism, trafficking, or other illegal activities. Cash remains the preferred funding for criminals. Additionally, cryptocurrency transactions are easier to track because searchable public databases already exist for most transactions.