AML Risks Mean Financial Institutions Need Caution When Working with Cryptocurrency

bitcoin ethereum compliance risk

It is not a secret that cryptocurrency presents anti-money laundering and counter terrorist financing issues for financial institutions. But what is it exactly about cryptocurrency that makes it so risky? A 2018 Allen & Overy article explains the unique issues for financial institutions presented by cryptocurrency from an anti-money laundering perspective. In some respects, the challenges presented …

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2020 Saw EU Member States Take Big Step to Legitimize Use of Cryptocurrency

European Union anti-money laundering regulations

The date for EU Member States to implement into national legislation the Fifth European Union Anti-Money Laundering Directive (AML 5) came and went this past January, and this was a significant development. AML 5, which makes several steps toward strengthening the EU’s anti-money laundering and combatting the financing of terrorism regulatory scheme, is especially important for …

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