Criminals in Europe are using cryptocurrencies to launder as much as $5.5 billion (£4 billion) in illegal money, according to the head of Europe's policing agency. Rob Wainwright, the director of Europol, estimated that around 4% of all criminal proceeds in Europe are being funnelled through currencies like Bitcoin — and he expects this figure to increase. Europol's standing estimate for the amount of illicit cash circulating in Europe is around £100 billion, Wainwright said. Using his 4% estimate for the amount funnelled via cryptocurrency gives a figure of £4 billion, or $5.5 billion. In an interview with the BBC, ... (full story)