Cryptolaundering: anti-money laundering regulation of virtual currency exchanges
This paper discusses anti- money laundering regulation for virtual currency intermediaries, by showcasing and comparing regulatory models at the national and international levels.
It is found that anti-money laundering regulation for virtual currencies — more than being merely “nice to have” — contains considerable potential in the fight against economic crime. Where financial intermediaries engaged in virtual currencies are required to gather the full spectrum of information needed to identify their customers and the source of funds, virtual currencies become much less attractive to money launderers than traditional fiat money systems. Furthermore, anti-money laundering regulation means that supervisory and investigatory authorities can identify and act against money launderers and other delinquents.
The author presented this paper at a conference at the University of the Western Cape, South Africa, in October 2018. It was published in the Journal of Anti-Corruption Law (Volume 3, Number 2: 2019, pp1-15).
The author would like to emphasise that the world of cryptocurrencies and money laundering regulation moves fast and many things may have changed since the paper was written.
Links and other languages
Industry Program for Development of Anti-Corruption Compliance and Business Ethics in Moscow Transport Organizations
The Industry Program for Development of Anti-Corruption Compliance and Business Ethics in Moscow…
Insider’s corruption versus outsider’s ethicality? Individual responses to conflicting institutional logics
This article arises from the work of the Basel Institute's Public Governance team on informal…