Criminal Activity and Environmental Impact as Cryptocurrency Concerns

The surge of cryptocurrencies, such as Bitcoin, has raised concerns regarding their widespread adoption without adhering to standard. Unlike traditional currencies, they operate on a decentralized system called blockchain, allowing trustless transactions. Trustless transaction could facilitate their use in social and economic crimes. This letter examines methods to regulate and control the use of cryptocurrencies in social and economic crimes. Additionally, it investigates the environmental impact resulting from the mining process associated with these digital assets. Some strategies are proposed to substitute the current mining process with more environmentally sustainable alternatives