moneylaundering

Balancing Privacy and Regulation: Focus on Privacy-Enhancing Cryptocurrencies in Anti-Money Laundering Efforts

blockchains

Balancing Privacy and Regulation: Focus on Privacy-Enhancing Cryptocurrencies in Anti-Money Laundering Efforts

* An academic paper suggests targeting privacy-preserving cryptocurrencies to combat money laundering. * Methods of undermining trust in permissionless blockchains include 51% attacks, price suppression, and Sybil attacks. * These methods should be a "last resort" after other policy initiatives have been exhausted. * Approach should balance regulatory compliance, innovation, and individual

By The Big Whale
China Considers Revising Anti-Money Laundering Law to Address Risks of Cryptocurrencies

china

China Considers Revising Anti-Money Laundering Law to Address Risks of Cryptocurrencies

* Chinese lawmakers are considering revising anti-money laundering law to monitor money laundering risks through emerging financial technologies. * The revisions aim to improve detection methods amid the rapid development of new technologies. * The proposed provisions call for collaboration between the central bank and financial regulators to manage money laundering threats from

By The Big Whale

bitcoin

Privacy-Focused Bitcoin Wallet Founders Indicted for Money Laundering and Unlicensed Operations

* Samourai Wallet provided open-source code and transparent services. * Despite compliance with laws, founders were indicted and assets seized. * FinCEN guidelines show Samourai Wallet is not a money transmitter. * Charges against Samourai Wallet founders are conspiracy charges. * US government's strategic campaign against privacy impacts Bitcoin users. * Support Samourai Wallet

By The Big Whale