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Analyze the role of emerging technologies, such as cryptocurrencies and blockchain, in enabling new forms of money laundering, and the regulatory and enforcement measures required to address these evolving threats.
I believe using Blockchain for money laundering is a rookie mistake. With understanding of how blockchain works, it is like walking on a beach with leaving your footprints behind. Every time you make a transaction in a public blockchain space, you are actually leaving trails of where your past transRead more
I believe using Blockchain for money laundering is a rookie mistake. With understanding of how blockchain works, it is like walking on a beach with leaving your footprints behind. Every time you make a transaction in a public blockchain space, you are actually leaving trails of where your past transactions have been made and so anyone can access your money flow information. Ever in future if you share your blockchain wallet ID number with anyone (to accept money from the person) they will easily be able to track all your transactions. On other hand if you choose certain cryptocurrencies which have KYC regulations and promote it within the society, making other unwanted cryptocurrencies less valuable in the crypto world. This is can be one of the steps to help minimising threats like money laundering.
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