Blockchain intelligence firm CipherTrace has claimed that large banks may be processing up to $2 billion in undetected cryptocurrency-related transfers each year.
In a press release shared with Cointelegraph on Dec. 16, CipherTrace claims that its research unit has found that every one of the United States’ top 10 commercial banks have unregistered cryptocurrency businesses using their payments networks to process funds.
These unregistered cryptocurrency money service businesses (MSBs) include entities such as crypto exchanges, according to the research.
