DeFi AML anti money laundering data provider for blockchain users

Anti-Money laundering and DeFi decentralized finance Regulatory Compliance

Anti-Money laundering legislation and guidelines apply to blockchain transactions in DeFi as in conventional business and finance. AML - Anti-Money laundering will simply change in its detection and application methods and as Tech-aware companies challenge the existing players is the obvious key word leader.

AML providers in the new blockchain and decentralized finance market have to be hi-tech and fast - DeFI is a game changer and controls will have to be refined.

CFT - Combating the Financing of Terrorism

A major worry for all investment companies and banks is not to be involved in CFT - the fines can be huge and the brand damage long-lasting. Decentralised Finance has the same risks and new systems and structures must be put in place that permit customer independence whilst at the same time identifying that customer.

The advantages of DeFi products cutting out the middleman costs cannot be sacrificed to total client anonymity - countries and regulators simply won't allow complete anonymity.

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AMLD - Anti Money Laundering Directives

AML regulations were extended to cryptocurrencies and cryptocurrency exchanges with the EU 5AMLD but 6AMLD, the next evolution of the Directive, coming into force in late 2021 extends the duties, cooperation and penalties

Other countries are constantly developing their AML/KYC requirements to meet or beat 6AMLD.