Cryptocurrency service providers will soon be required to hold a license issued by the Dutch Central Bank in the Netherlands.
Money Laundering News
Every government in the world is afraid of the relative anonymity of virtual money. The explanation of that is that a government’s financial organs can’t find a viable path to minimize the risks related to the financing of terrorism and cryptocurrency money laundering. But the truth is that Bitcoin money laundering is not widespread. For instance, less than 1% of transactions between 2013 and 2016 were with cryptocurrencies of illegal origin while 2-5% of worldwide GDP is laundered annually. Due to the character of a public blockchain and the need to transfer virtual money to fiat, Bitcoins can indeed be controlled much easier. Therefore, cryptocurrency money laundering is a really complex process where even absolute anonymity is not a key to success.
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- European Parliament Calls for Increased Blockchain Adoption in Trade
- Swiss Federal Council: Existing Financial Law Should Be Adjusted to Blockchain Industry
- Bitcoin, Ripple, Ethereum, Stellar, EOS, Bitcoin Cash, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 14