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Cryptocurrencies as a new means of money laundering and financing of terrorism
Cryptocurrencies have become a dominant feature in the international financial system in recent years with a market capitalisation
over US$300 billion and market value over €7 billion globally. From a legal perspective, regulators are worried about criminals
who are progressively using cryptocurrencies for unlawful operations such as money laundering and terrorist funding. The Bank
of International Settlements and the International Monetary Fund have warned that owing to their features, cryptocurrencies
are potentially vulnerable to illicit use and in particular to facilitating money laundering (so-called virtual money laundering)
since they can be used to obfuscate the origin of illicit profits. Despite some commentators pointing out that the threats
of money laundering posed by cryptocurrencies are currently more theoretical than actual, the issue is extremely important
and is considered one of the main urgencies at both the international and national level.
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