An ugly side of cryptocurrency is its attractiveness to bad actors. It is a cat and mouse game that regulators play to catch up with the latest iterations. The mixers that are appearing and getting popular seem to point to an unwanted trend. Once these trends are spotted, it is only a matter of time before the calvary storms in and so, AML/CTF are key tools that regulatory teams must have. Sharing my interview with Forkast who also interviewed Chainanalysis.
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AML and CTF concerns coming up for cryptos
“We’ve seen over the last couple of years the FATF now makes fairly frequent recommendations — especially on crypto regulation — and the willingness of the financial hubs [like] Singapore, Hong Kong, Switzerland to then follow those recommendations would be actually pretty quick these days,” said Reed Smith’s Tan.