Coinfirm: “Cryptocurrencies are better protected from money laundering, than traditional finances " – Bits Media

Coinfirm's development head is sure, that the development of AML and KYC made it difficult to use cryptocurrencies for illegal operations and this attracted new investors to the industry.

Business development manager of the analytical company Coinfirm to Durgam Mushtakh (Durgham mushtaha) stated, what in The difference from the fiat currency of the transaction with cryptoactures is much easier to track with the help of anti -money laundering tools (AML). 

He added, that the introduction of the procedures "Know your client" (KYC) To identify users on the main crypto -streaks, led to the creation of a reliable financial system, more protected from money laundering and other illegal activities, than a fiat currency. Mushtakh counts, that these rules strengthened the image of the sector.

"I see, that the next bull trend in the market will be a turning point. Investors will massively immerse in cryptocurrency, Since fears are scattered, And the sector is growing exponentially ", He said.

Mushtakh noted, What is in a cryptosectator, including decentralized finances (DeFi), Indicators of risk scenarios were introduced, designed for the traditional financial system.

“How we differ from traditional finance, So this is our analytical processes on the network. There are no blockchains in traditional finance, Therefore, they miss a huge part of the puzzle, Since the blockchain sector is not isolated ", He said.

According to him, Aml is becoming more sophisticated in the Defi space. Mushtakh emphasized, that year after year reports confirm the decrease in the use of money laundering, and transactions using illegal addresses make up the total 0.15% from indicators 2021 of the year.

He added, that the US dollar is still the most used and preferred currency to launder money, Unlike cryptocurrency.

“Now we can say, Was your wallet was directly involved in illegal actions or inherited the risk from another address, receiving funds dishonestly. Those, who is engaged in illegal activities, It would be reasonable to stay away from crypto assets and adhere to a proven dollar ", -said the top manager Coinfirm.

Recently the Department of Financial Services of the state of New York (NYDFS) During his first investigation in the crypto industry, he accused Robinhood Crypto of violating the rules for combating money laundering and protecting users.