AML ANALYSTS CAST A SUSPICIOUS EYE ON STABLECOIN LIQUIDITY

THE GROWING popularity of cryptocurrencies has stoked concerns that they offer a haven for money launderers. The concern focuses on the risk that crypto can be used anonymously to buy goods and services, without them being converted into fiat currencies through exchanges that are a key focus of emerging AML/CFT controls. And as a result, the growth of so-called ‘stablecoins’ whose value is linked to the accepted price of a real-world asset, most commonly the US dollar, have drawn the attention of the Financial Action Task Force (FATF), which argues they have ...


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