Crypto Swords and Shields: Anti-Money Laundering Compliance Strategies for Crypto Exchanges

Active

Program Number

3295

Program Date

2022-05-04

CLE Credits

Crypto exchanges have become a tool of choice for would-be crypto “money” launderers. The AI analytics firm Chainalysis estimated that “cybercriminals have laundered over $33 billion worth of cryptocurrency since 2017, with most of the total over time moving to centralized exchanges.”

Crypto has long been seen as particularly susceptible to money laundering activities due to its anonymity and independence from traditional cash routes and their attendant regulations. But crypto exchanges can use the unique features of blockchain technologies to their own ends, including developing effective countermeasures to detect and thwart crypto laundering schemes.

This presentation will discuss general anti-money laundering policies and blockchain-based strategies in the context of crypto exchanges and under the perspective of the recently signed Executive Order on Ensuring Responsible Development of Digital Assets.