Hidden Effects of Cryptocurrency Money Laundering Rules

Since the Vespasian carpet of golden coin waving gold and emphasizing that she smelled pure as well as others, separating money from her origin was in the minds of the regulator,

Speeding up the flow of digital money around the world, as well as the growing threats of terrorist attacks and powerful criminal records, increased the urgency of the dialogue and resulted in a multitude of rules and guidelines from national governments and governments. Supranational organizations.

It is clear that they would at one time affect the cryptocurrency because many authorities feared that it would be much more difficult to prevent third parties from hindering the flow of illegal resources.

Exhibit A: AMLD5, a European law that will ultimately affect cryptographic companies around the world. Recent signs from other jurisdictions also point to increased attention to this issue. As is commonplace in the ubiquitous compliance regulation, short-term pain in terms of higher costs and privacy is worrying, and there are signs that regulators still do not fully understand how the system works technology.

But in the long run, even the most demanding requirements will ultimately evolve and may unexpectedly stimulate the development of the sector.