Published in The Banker
What are the concerns for regulators over cryptocurrency?
With concerns ranging from investor protection to money laundering, terrorist financing and the environment, regulators have been flexing their muscles, signalling intent to police cryptocurrencies and clamp down on those committing or facilitating unlawful behaviour.
As the growing industry is increasingly granted legitimacy by various US states, private-sector companies and high-profile entrepreneurs, businesses will have to adapt and evolve accordingly. When it comes to anti-money laundering (AML) efforts, the example presented by the banking sector may make life difficult for crypto operations.
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