The International Legal Framework for Combating Money Laundering and Terrorist Financing Related to Crypto Assets
Keywords:
crypto assets, anti-money laundering, counter-terrorist financing, FATF, virtual assets, regulatory framework, international cooperationAbstract
This article examines the evolving international legal framework addressing anti-money laundering and counter-terrorist financing (AML/CFT) challenges posed by crypto assets. As the crypto asset ecosystem continues to expand globally, regulatory authorities face significant challenges in implementing effective supervisory frameworks. This research analyzes the current state of international standards, primarily those established by the Financial Action Task Force (FATF), and their implementation across jurisdictions. Through a systematic review of regulatory approaches and case studies, the study identifies key supervisory practices, enforcement mechanisms, and persistent implementation challenges. Results indicate uneven application of international standards, with particular difficulties in travel rule implementation, regulation of peer-to-peer transactions, and cross-border cooperation. The research contributes to understanding how regulatory frameworks can effectively mitigate financial crime risks while supporting responsible innovation in the crypto asset sector.
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