What is crypto Anti-Money Laundering (AML)?

Cryptocurrency anti-money laundering (AML) encompasses the laws, regulations, and practices designed to stop criminals from converting illegally obtained cryptocurrencies into fiat currencies. How does crypto AML work? The Financial Action Task Force (FATF) sets the standards for AML laws globally.

What is Anti-Money Laundering (AML) regulation?

Anti-Money Laundering (AML) regulations help combat the washing of illegal funds. They are a requirement for centralized cryptocurrency exchanges to help keep customers safe and combat financial crime. Due to the anonymous nature of cryptocurrency, its regulation relies heavily on monitoring customer behavior and identities. What is AML?

Do crypto exchanges have AML compliance?

Large-scale seizures of crypto show criminals regularly use it to launder huge sums. Binance and many other crypto exchanges track suspicious behavior as part of their AML compliance and report it to law enforcement. Anti-Money Laundering (AML) regulations help combat the washing of illegal funds.