Edit: Just the daily trading volume of, say, the forex market, completely dwarfs both the total market cap of tether or the daily volume of Binance. The total value of global equity trading worldwide is also insanely bigger than these two combined.
Edit: Just the daily trading volume of, say, the forex market, completely dwarfs both the total market cap of tether or the daily volume of Binance. The total value of global equity trading worldwide is also insanely bigger than these two combined.
It should/could/is. However, there are two things you need to understand:
1. Crypto is mostly a young people game. Who happens to be quite broke. The people who have money where I'm from, are not comfortable with crypto. They'd rather deal cash, real estate, gold or valuable objects.
2. You can't launder money with crypto. You can only launder money with something that has an off-ramp. For now, crypto acceptance is very limited. The number of places, stores and businesses that accept crypto is quite minuscule that you almost always need an off-ramp into the traditional financial system. And that's where the laundering will happen, and is happening.
Even if we assume 100% of Binance and Tether are money laundering - it would be a fraction of the traditional money laundering industry already