Report shows: European and American retail banks are mostly troubled by illegal money service businesses involving cryptocurrencies

According to AMBCrypto, a recent report from CipherTrace Labs found that individuals operate illegal crypto-currency services (MSB) in 80% of US retail banks. In Europe, about 50% of retail banks are facing this problem, and this situation may soon intensify. These MSB businesses use their corporate bank account as a channel, accept cash payments in exchange for cryptocurrencies, and facilitate illegal transactions in fiat and cryptocurrencies.