Fed Governor: Up to 50% of Bitcoin transactions are illegal to some extent

According to Cointelegraph, Fed Governor Lael Brainard highlighted the risks that cryptocurrencies still have. Brainard cited an academic study earlier this year saying that Bitcoin still has a large number of malicious users. She told the audience that "only one-third of the most popular exchanges need authentication and proof of address to make deposits and withdrawals. This is disturbing because many studies have concluded that cryptocurrencies support a large number of illegal activities." Brainard also said that up to 50% of Bitcoin transactions are illegal in some way.