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Learn Ethereum
book

Learn Ethereum

by Xun (Brian) Wu, Zhihong Zou, Dongying Song
September 2019
Beginner to intermediate
540 pages
13h 3m
English
Packt Publishing
Content preview from Learn Ethereum

AML and KYC

As DeFi applications become more and more mainstream, it certainly raises more and more regulation and compliance concerns from governments all over the world. The blockchain and cryptocurrency community should be prepared to work with financial regulators and develop solutions to address such thorny issues.

One that's close to watch is the Anti-Money Laundering (AML) law. According to Sec.gov (https://www.sec.gov/about/offices/ocie/amlsourcetool.htm#3), financial institutions are required to establish an AML program, which is a formal program within the institute that establishes reasonable policies, procedures, and internal controls to comply with Bank Secrecy Act rules. They also need to set up risk-based procedures to know ...

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Publisher Resources

ISBN: 9781789954111