Crypto-regulations and the question of another ‘Snowden’ showdown in the making
Anti-money laundering laws came under the spotlight following the 11 September 2001 attacks. However, money laundering has been a major crime in the U.S since 1986. But, that’s not all. In fact, money laundering cases have been a major concern across the cryptocurrency sector too.
In fact, CipherTrace’s 2020 cryptocurrency crime and anti-money laundering report revealed that in 2020, major crypto-thefts, hacks, and frauds totaled $1.9 billion — The second-highest annual value in crypto-crimes yet recorded.
Well, many countries enacted money laundering laws in the 20th century. But, it was only in the period following 9/11 that the whole world began to recognize the need to eliminate the funding sources of international criminal organizations.
Read more on ambcrypto.com
