in illicit activities such as money laundering. With their decentralized nature and lack of regulation, cryptocurrencies can be an attractive option for those looking to hide illicit funds.
Money laundering is a serious global problem that affects both developed and developing countries. It involves the illegal process of concealing the origins of money obtained through criminal activities and making it appear as if it was obtained from legitimate sources.
As the world becomes more interconnected, people and businesses are seeking ways to protect their assets and minimize their tax burden. One popular strategy is to use tax havens, countries with favorable tax laws that attract investors from around the world.