i-law

Compliance Monitor

A guide to anti-money laundering for crypto firms

While the regulatory landscape is far from settled, and each jurisdiction will vary in its arrangements, several trends have started to emerge that will inform a crypto firm's approach to financial crime and compliance. ComplyAdvantage provides a step-by-step guide to risk mitigation and regulatory compliance best practices.

The year 2021 was pivotal for cryptocurrencies, non-fungible tokens (NFTs) and other digital assets. Crypto's market cap hit all-time highs in late 2021, and NFTs have attracted attention from retail investors and established investors alike. These trends speak to a broader shift toward DeFi, or decentralised finance, which leverages blockchain technology to execute peer-to-peer transactions. Such transactions bypass the payment and money transfer rails of traditional financial institutions. And this has led to the introduction of a whole new set of financial services and products.

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