The (mis)use of cryptocurrencies by criminal organizations: a systematic literature review

Gioia Arnone (), Giovanni Scire’ () and Enzo Bivona ()
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Gioia Arnone: University of Palermo
Giovanni Scire’: University of Palermo
Enzo Bivona: University of Palermo

Digital Finance, 2025, vol. 7, issue 4, No 9, 815-851

Abstract: Abstract This study explores the intersection between cryptocurrencies and criminal organizations through a systematic literature review. By examining peer-reviewed academic publications, the research identifies the mechanisms by which criminal groups leverage digital currencies for illicit activities such as money laundering, fraud, and extortion. A structured PRISMA-based methodology was adopted, employing well-defined inclusion, and exclusion criteria to ensure transparency and replicability. The study reveals critical trends in the misuse of cryptocurrencies, the technological challenges faced by regulators, and the limitations of current enforcement frameworks. The originality of this research lies in synthesizing existing academic insights while identifying key gaps in the literature. The findings highlight the urgent need for tailored regulatory responses and greater cross-border cooperation, contributing to both academic understanding and policymaking. The practical implications include recommendations for policy adaptation and future research pathways to mitigate cryptocurrency-enabled criminal behavior.

Keywords: Crypto-enabled crimes; Illicit financial flows; Decentralized finance risks; Crypto-regulatory challenges (search for similar items in EconPapers)
JEL-codes: E42 G28 K42 O33 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s42521-025-00148-1

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