Based on the report by the US Treasury on defi, they admit to the fact that cash is still king in being used to launder money or finance terrorism. This is a quote from the report, "Still, as previously noted in the 2022 NRAs, this risk assessment recognizes that most money laundering, terrorist financing, and proliferation financing by volume and value of transactions occurs in fiat currency or otherwise outside the virtual asset ecosystem via more traditional methods".
This isn't surprising to us as we know the Blockchain is public, but why are the news and traditional media not talking about this? They only ever point out the negatives of crypto. Very annoying to see mainstream media biased on crypto.
Source: https://home.treasury.gov/news/press-releases/jy1391 (Page 4 under risk assessment overview)
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