Cryptocurrencies and drugs: Analysis of cryptocurrency use on darknet markets in the EU and neighbouring countries


This report uses data from Chainalysis to estimate the degree of activity in the darknet market ecosystem (from 1 June 2011 to 31 October 2021) and triangulate these activities collated to the countries of the European Union and its surrounding neighbours (54 countries in all; from 1 April 2019 to 1 June 2021). The report also provides a discussion of the constantly evolving legal environments that govern cryptocurrency use in some of these countries.

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Cryptocurrencies and drugs

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Additional information

This paper was commissioned by the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA), through EU4MD and IPA7 projects, both funded by the European Commission, to provide background material to inform and contribute to the analysis of EU Drug Markets. This background paper was produced under contract no CT.1.EU4MD.0060.1.0 and we are grateful for the authors’ valuable contribution. The paper is available online for those who would like further information on the topic. However, the views, interpretations and conclusions set out are those of the authors and are not necessarily those of the EMCDDA or its partners, any EU Member State or any agency or institution of the European Union.