Internet of Money; cryptocurrencies; virtual currencies; DLT; blockchain; AML; CFT; pseudonymity; privacy; transparency; traceability; anonymity
Résumé :
[en] This research paper focuses on the interconnections between traditional and cutting edge technological features of virtual currencies and the EU legal framework to prevent the misuse of the financial system for money laundering and terrorist financing purposes. It highlights a set of Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) challenges brought about in the Internet of Money (IoM) landscape by the double-edged nature of Distributed Ledger Technologies (DLTs) as both transparency and privacy oriented. Special attention is paid to inferences from concepts such as pseudonymity and traceability; this contribution explores these notions by relating them to privacy enhancing mechanisms and blockchain intelligence strategies, while heeding both core elements of the present AML/CFT obliged entities' framework and possible new conceptualizations. Finally, it identifies key controversies and open questions as to the actual feasibility of effectively applying the "active cooperation" AML/CFT approach to the crypto ecosystems.
Disciplines :
Droit, criminologie & sciences politiques: Multidisciplinaire, généralités & autres
Auteur, co-auteur :
POCHER, Nadia ; Universitat Autònoma de Barcelona ; Alma Mater Studiorum Università di Bologna ; Katholieke Universiteit Leuven - KUL
Co-auteurs externes :
no
Langue du document :
Anglais
Titre :
The Open Legal Challenges of Pursuing AML/CFT Accountability within Privacy-Enhanced IoM Ecosystems
Date de publication/diffusion :
février 2020
Nom de la manifestation :
3rd Distributed Ledger Technology Workshop Co-located with ITASEC 2020
Date de la manifestation :
04-02-2020
Manifestation à portée :
International
Titre de l'ouvrage principal :
Proceedings of the 3rd Distributed Ledger Technology Workshop
Maison d'édition :
RWTH Aachen University, Aachen, Inconnu/non spécifié Sun SITE Central Europe, Aachen, Inconnu/non spécifié
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