Category: AML/CTF/KYC

AML, CTF and KYC in Bitcoin and DLT environments

Beyond the spectacular cases of illegal or illicit use of virtual currencies (see in particular the Silk Road case), concerns about money laundering and terrorist financing surfaced very early on, leading to relevant regulation in New York and intense debate in Europe and elsewhere, including at FATF in Paris. Two characteristics inherent in blockchain technology considerably facilitate illegal activity. However, in the Bitcoin environment this is more of a problem than in any future DLT network set up by regulated entities.