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Policy will focus on rising cryptocurrency crime

Thursday, March 15, 2018


More cryptocurrency transactions are passing through banks than ever. Banks now face the dilemma of whether they should treat cryptocurrencies as a regular financial instrument and accept the inherent risks, or whether they should wait for more centralised regulation and in the meantime risk illegal transactions flowing through their systems.


  • Increased regulation will help banks standardise their approach and include these currencies in existing anti-money laundering frameworks.
  • Each bank will set its own risk appetite; some will prefer to minimise their exposure until new regulations are finalised.
  • Banks will refine their transaction monitoring models to track cryptocurrency payments and flag any that appear unusual or suspicious.

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