Question

What is anti-money laundering (AML) in crypto?

Answer 1

Anti-money laundering (AML) in crypto refers to the regulations and procedures put in place to prevent and detect the illegal activities involving cryptocurrencies, such as money laundering and terrorist financing. AML measures in the crypto space typically involve identity verification, transaction monitoring, and reporting suspicious activities to regulatory authorities.

Answer 2

Anti-money laundering (AML) in crypto refers to the regulations and processes put in place to prevent criminals from disguising illegally obtained funds as legitimate income through the use of cryptocurrency. AML measures typically involve monitoring transactions, verifying customer identities, and reporting suspicious activities to authorities to combat money laundering and terrorist financing in the crypto space.