Cryptocurrencies came to life as a counterweight to the global financial restrictions that are powered by banks and regulators through the use of fiat. Therefore, it is fitting that Bitcoin (BTC) broke into the limelight in 2009 and raised a lot of controversies right form the start.
By design, all blockchain transactions are recorded on an immutable ledger. Therefore, even though it would take immense work, skilled auditors like Ernst are able to find irregularities — as opposed to fiat, which it is claimed that 99.9% of money laundering is not prosecuted by regulators.