Uncovering the facts around illicit crypto use
Over the past year, there have been persistent claims about the crypto industry being a major tool for money laundering (ML), terrorist financing (TF) and sanction evasion (SE), classifying it as high risk. This year also marks the establishment of the European Anti-Money Laundering Authority (AMLA), which will centralise and enhance the EU and Member States’ efforts to combat financial crime. Moreover, certain Crypto Asset Service Providers (CASPs) and issuers will fall under the AMLA’s purview. From the start, the authority labelled the crypto sector as an elevated risk. Other public agencies and stakeholders also provided similar assessments.
Is crypto a high-risk industry?
Let’s go through the main arguments from two key…
