Project Crypto

What is AML Compliance Program?       Financial institutions are required to put in place an Anti-Money Laundering compliance program. This is done so they can combat financial crime and keep their customers safe from fraud, especially since it's a very lucrative business that criminals tend not only invest time into but also money too! An anti-money laundering program ensures that financial institutions are following all the regulations and procedures to prevent or detect potential money launderers.    With the implementation of anti-money laundering compliance programs, businesses need to be constantly vigilant. The United States' Bank Secrecy Act was amended by a variety or subsequently introduced legislation including USA Patriot Act and Fourth Anti-Money Laundering Directive in 2017 which comes with Fifth amendment scheduled for 2020. The AML compliance program is a crucial component to any financial institution. The right one can help you keep your customers, gain new

  Ethereum is a public, open-sourced blockchain platform that allows users to write decentralized applications. In other words, Ethereum provides a decentralized virtual machine that employs the Turing-complete programming language to run scripts or intelligent agents in an environment protected from external interference or hacking. If you are not familiar with what Ethereum is, it's a public blockchain infrastructure that supports the development of decentralized applications. The way Ethereum works will fundamentally transform the way people do business online because it gives people access to secure methods for establishing ownership of property, interacting with one another in the virtual world, and building trust in transactions without needing an intermediary or central authority. What are dapps and how it works? Dapps are decentralized applications that function with the use of smart contracts on blockchain networks. The functionality of these apps is not controlled b

  Cryptocurrencies are flourishing, with the rise of blockchain technology facilitating their spread. Cryptographic algorithms protect these crypto assets from central bank authority and allow them to circulate without any need for a financial system that relies on such oversight; this makes cryptocurrencies disruptive forces in traditional finance - traded across exchanges worldwide by criminals searching for anonymity or laundered through legitimate transactions as well-intentioned acts slip through regulatory cracks. In 2019, criminals laundered around $2.8 billion in Bitcoin through cryptocurrency exchanges an increase over 2018's figure by a whopping 1%. This trend has prompted global regulators who have responded with new AML/CFT laws applicable to service providers of cryptocurrencies such as the one recently implemented from Japan that requires exchanges to register themselves and report any suspicious activity - leading them towards more transparency than ever before!

There once was a time not that long ago when AML (Anti-Money Laundering) compliance was a costly and complex process for large companies and banks. The advent of blockchain technology and the increasing popularity and adoption of cryptocurrency provided both opportunities and challenges to AML compliance. Whilst in the traditional financial world, AML compliance and adherence to a universal set of guidelines, is mandatory and there are sanctions such as fines for non-compliance institutions, in the crypto world, the same sort of universal compliance has yet to fully evolve.   Despite the lack of regulation, or because of it, the crypto world has boomed. It is now at a point where there is so much institutional investment and adoption that it is to differentiate where traditional finance ends and crypto begins.   Crypto exchanges have quickly become an integral part of the financial ecosystem systems. However, there is a strong argument that with universally recognised regulation