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01 April 2020

Crypto Analytics Firm Elliptic to Tell US Congress Privacy Coins Need Stricter AML Rules - CoinDesk

Crypto Analytics Firm Elliptic to Tell US Congress Privacy Coins Need Stricter AML Rules - CoinDesk


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Crypto Analytics Firm Elliptic to Tell US Congress Privacy Coins Need Stricter AML Rules.

To that end, Shetret’s prepared remarks, which were shared with CoinDesk, will recommend that Congress and regulators develop new guidance for banks and crypto exchanges on how to approach privacy coins and the individuals who trade them.

“Regulators should ensure that cryptocurrency businesses that support privacy coins enforce anti-money laundering policies that are appropriate to the lack of traceability inherent to them,” she said.

“There’s a big role that banks generally, financial institutions need to understand their own role and exposure to crypto, and law enforcement needs to understand their transaction monitoring,” Shetret said

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