Cryptocurrencies are highly encrypted and can be subscribed to by anyone, which facilitates trade between countries and can lead to money laundering under the guise of trade. Cryptocurrencies are subject to a higher level of anonymity, making them more vulnerable to the risks of money laundering and other criminal activities. However, insisting on clear records on the blockchain could further thwart money laundering attempts. Strict crypto identity verification and his KYC process prevents money launderers from placing crypto on the platform.