
56 • Conjuntura Internacional • Belo Horizonte, ISSN 1809-6182, v.21 n.1, p.51 - 68, abr. 2024
le retaining the benets of digital assets.
Smaller and Emerging Cryptocurrencies:
ese are lesser-known emerging digital as-
sets. ese cryptocurrencies may oer lower
visibility and reduced scrutiny by authorities,
making them attractive for illicit activities. For
example, Avalanche (AVAX), Polkadot (DOT),
and Ripple (XRP).
Meme coins: cryptocurrences inspired by
internet memes, characters or trends. Although
they are often created as satires, some meme
coins, such as Dogecoin (DOGE), Shiba Inu
(SHIB), and Pepe (PEPE), have achieved sig-
nicant value.
Privacy Coins: privacy-oriented cryptocur-
rencies such as Monero (XMR), Zcash (ZEC),
and Dash (DASH). ese coins use advanced
cryptographic techniques to obfuscate transac-
tion details, making it extremely dicult for
authorities to trace the origins, destinations,
and amounts involved in transactions.
It is common to hear the term Alt Coins.
e term Alt Coins simply refers to any cryp-
tocurrency that is not Bitcoin. It encompasses
stablecoins, meme coins, privacy coins, and all
other cryptocurrencies. It is also important to
note that when one refers to crypto assets, the
expression includes not only crypto currencies
but also other digital assets. ese other digital
assets include crypto-related funds (investment
funds related to cryptocurrency or blockchain)
and crypto tokens. e expression ‘token’ is
used to refer to a digital asset that represents
ownership, a specic value, or a utility – like a
free-meal coupon or a cassino chip. Although
cryptocurrencies are technically tokens, as they
function as digital representations of a value
designed to facilitate transaction, the expres-
sion ‘token’ is usually employed to designate a
digital representation of an interest that is built
on an existing blockchain (i.e. is not intrinsic
to that blockchain). is contrasts with cryp-
tocurrencies which are intrinsic to their own
blockchain. us, digital tokens act as a digital
“key” to a service or ownership and can have
dierent functions. For instance, a utility token
provides access rights or enables the purchase
of specic products or services; a security token
proves ownership in real-world assets, and; a
non-fungible token or NFT registers ownership
over a non-fungible asset, that is, a unique di-
gital items such as pictures, videos, or songs)
(Sharma, 2024).
Understanding the dierences and nuan-
ces between dierent cryptocurrencies is very
important. On the one hand, this variety res-
ponds to dierent market demands; on the
other hand, criminals and terrorists also ex-
ploit these distinctions according to their par-
ticular needs. Dierent types of criminals have
dierent needs (Chainanalysis, 2024; TRM,
2023). White-collar criminals, for example,
exploit cryptoassets for money laundering. For
them, cryptoassets such as Bitcoins, Alt coins,
and NFTs that are very volatile are attractive
because their price variations can be used to
justify gains or losses. Criminals involved in
illicit commerce use cryptoassets to sell their
products, but do not seek to accumulate cryp-
tocurrency. Individuals involved in activities
such as bribery, corruption, espionage, and
even the nancing of terrorism use the cryp-
to ecosystem as a means to make illicit pay-
ments. ese actors tend to want to preserve
their gains and thus favor stablecoins. Rogue
states and sanctioned entities use cryptocur-
rencies to move money across jurisdictions
and evade sanctions. ey also favor the use of
stablecoins. Cybercriminals and cyber-enabled
criminals who commit fraud and scams, thefts,