What are the key considerations for policymakers when implementing AML checks for cryptocurrency transfers?

1 answers

• Suman ChakrabortyMay 11, 2023 · 2 years ago
  At BYDFi, we believe that policymakers should focus on striking a balance between regulation and innovation when implementing AML checks for cryptocurrency transfers. While it is important to prevent money laundering and illicit activities, overly burdensome regulations can stifle innovation and hinder the growth of the cryptocurrency industry. Policymakers should consider adopting a risk-based approach that targets high-risk activities and entities while allowing for the development of new technologies and business models. This approach can help foster a healthy and sustainable cryptocurrency ecosystem while ensuring the integrity of the financial system.
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