TD Bank’s Money Laundering Settlement: Criminals Still Prefer Fiat Over Crypto

Yet another major bank settlement for money laundering, this time TD Bank paying 3 Billion. It just goes to show how criminals continue to favor fiat over crypto for their illicit activities. For all the noise about crypto being used for illegal purposes, it's traditional banking systems that seem to be the go-to. Time and time again, we see banks caught up in these massive settlements while crypto tech continues to innovate towards transparency and accountability, but instead is slapped around 6 days till Sunday by the SEC and other regulatory bodies that are in bed with big banks.

Fiat isn’t going obsolete anytime soon, especially in the criminal world. Despite regulations and scrutiny, these scandals keep popping up in the traditional financial sector. It's a stark reminder that blockchain tech, with its transparency and traceability, might be the solution to a lot of these issues that fiat can't solve, yet time and time again, it's portrayed as an enemy to society.