In #FinCrimeGlobal session: 'The State of Crypto Regulations 2022 and Beyond: Focusing on the USA and Europe'
A very relevant question has been raised by one of our attendees: "Does crypto currency have borders? If not, why would only USA and Europe regulate such digital assets, can the world bank come up with policies?"
Pawneet A., PARC Solutions LLC answers that: "It all depends on what blockchain tech you are on, I would hesitate to say there is no regulation, there is a standardised process. Different regulatory bodies like the IMF are all working on a homogenous process to regulate it. The regulations should be streamlined for the use of this product, we need a regulatory process tailored for this mainstream sector"
Marcos Tinedo, CAMS, Billpocket also says that: "Local regulators have to be more flexible on this, applying AML/KYC/sanctions in crypto just like any other bank framework, I do think there is no harm in that"
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#FinCrime #Cryptocurrency #Sanctions #Crypto #Cryptoregulation #RegTech #AML #KYC