BIS Bulletin Proposes Revamping Crypto AML Measures With Compliance Scores

New Proposal From BIS Could Change How Crypto Conversions Work

In a recent research paper, BIS economists outlined a framework that would assign each cryptocurrency a compliance score based on its transaction history. The idea is to flag assets that have passed through wallets or protocols suspected of laundering stolen or illicit funds, lowering their score and making them subject to stricter controls. Under the proposal, national regulators could set minimum threshold scores for converting crypto into fia…

BIS proposes grading wallets for permissionless blockchain AML - Ledger Insights - blockchain for enterprise

For years the cryptocurrency community has been arguing that blockchains enable alternative ways to approach anti-money laundering (AML) and compliance. Companies like Chainalysis and TRM Labs have been providing wallet screening solutions for some time. Now these approaches are being endorsed by the Bank for International Settlements (BIS) with its proposal of grading permissionless blockchain […] The post BIS proposes grading wallets for permi…

BIS Bulletin Proposes Revamping Crypto AML Measures With Compliance Scores

The paper, issued by BIS economists, proposes using blockchain as a transaction history to overcome the limitations faced by current AML measures when dealing with decentralized assets, such as cryptocurrencies and stablecoins, in order to protect off-ramping institutions. BIS Bulletin Proposes Using Blockchain History to Build Crypto AML Score The expansion of cryptocurrency and stablecoins... The post BIS Bulletin Proposes Revamping Crypto AML…