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Wednesday

30 September 2020

Report: Privacy coins don't conflict with anti-money laundering laws

Report: Privacy coins don't conflict with anti-money laundering laws


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Report: Privacy coins don't conflict with anti-money laundering laws.

In the report, Perkins Coie aims to dispel the purported misconception that privacy coins like XMR are fundamentally incompatible with AML compliance, arguing that regulated entities are capable of complying with AML obligations while supporting privacy coins.

The report goes on to say that if VASPs serve as custodians of the private keys of their users, they will be able to see the number of privacy coins and report on suspicious activity in compliance with AML measures.

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