Opinion by: Ana Carolina Oliveira, chief compliance officer at Venga

Crypto doesn’t have a money laundering problem on its own. At least, not when compared to traditional finance, where the practice is at least twice as prevalent and over 90% of which is believed to go undetected. Money laundering is a general problem wherever we see the transfer of funds. That’s the good news. 

Blockchain records everything for posterity. When money laundering does occur, an indelible record is created that allows the illicit financial flows to be traced from end to end.

Just because crypto doesn’t have a particular money laundering problem doesn’t mean that money laundering has been eradicated. The anti-money laundering system needs to evolve as…