'Crypto-cleansing:' strategies to fight digital currency money laundering and sanctions evasion | Reuters


By Joshua FruthNEW YORK (Thomson Reuters Regulatory Intelligence) - Digital currency technologies generated widespread public and investor interest in 2017, with new cryptocurrency products capable of streamlining and decentralizing global commerce. Unfortunately, these technologies also create new money laundering tools that allow countries like Iran, North Korea, and Russia to evade international sanctions. This is especially true of so-called "privacy coins," which offer personal anonymity and covert transactions to their users.


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