AML LAW ‘NOT GEARED UP’ FOR DECENTRALISED FINANCE
November 2nd, 2021
Decentralised finance - DeFi for short -is a growing variety of blockchain-based financial services, such as loans and insurance, that can operate without central control from an intermediary. While some say DeFi will democratise finance and liberate the under-banked, it is also an increasing area of interest for anti-money laundering (AML) authorities, who rely on the existence of intermediaries to enforce AML procedures.
On October 28 (2021), the Financial Action Task Force (FATF) published new guidelines on virtual assets, advising countries to “monitor for ...
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