As new technologies and products become available the cryptocurrency market is rapidly growing. It is expected to achieve an annual growth rate of 12.2% from 2022 to 2030. This growth has led to cryptocurrency becoming a central point for money laundering with the illicit use of cryptocurrencies hitting $20.1 billion in 2022.

Due to its decentralised nature, cryptocurrency is more vulnerable to money laundering as it provides greater anonymity since public keys cannot be linked to an individual. Further, there are several technologies that ‘mix’ potentially identifiable cryptocurrency funds with the purpose of obscuring the source of origin, making them untraceable. 

Despite the regulatory challenges and risk of devaluations, cryptocurrency markets still attract substantial interest from traditional financial institutions and retail advisors. Due to the ongoing growth of cryptocurrency we forecast increased litigation in this area including those disputes arising out of illicit use. 

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