Navigating the Intersection of Digital Assets and AML

Although the largest volume of money laundering takes place using fiat currency, the most money laundering transactions are done using cryptocurrencies, said Peter D. Hardy, a partner at Ballard Spahr, at a recent PLI program. He and cryptocurrency experts from Chainalysis, Element Finance and Solidus Labs examined the rapidly evolving regulatory regime governing digital assets, including the current enforcement environment, sanctions and ransomware, applicability of AML rules to banks and decentralized finance, and digital transaction tracing and investigative techniques. This article distills the speakers’ insights. See “The Evolving Crypto Regulatory Climate” (May 11, 2022).

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