Crypto Clampdown Only Way of Controlling the Wild West of Finance - BitcoinEthereumNews.com
Crypto is “the Wild West of finance” and needs global cooperation to bring it under control, says a director of the European Central Bank. Speaking at Columbia University, Fabio Panetta said that a global level of cooperation would be required to ensure peer-to-peer transactions complied with anti-money laundering (AML) and terrorism laws. He said that bitcoin founder ซาโตชิ Nakamoto showed a great fascination with cryptography in the whitepaper, but not of payment and money issues. “They aspired to realize an anarchistic utopia of a stable currency free from public scrutiny,” he added. He lists the following criticisms of the crypto market: การระเหย, lengthy transfer times, and the traceability of transactions that some claim to be anonymous. Crypto brings instability and insecurity, claims director Furthermore, he also says that intermediaries do exist in the field of decentralized finance. And goes on to say that crypto brings instability and insecurity, which is creating a new Wild West. ปาเนตต้า โทร for lawmakers to introduce regulations to prevent “crypto-assets and the associated risks from proliferating unchecked.” Two priorities he lists are AML and counter-terrorism (CFT) laws, as well as the adequate taxation of crypto assets. He also says that public disclosure and regulatory reporting need to be strengthened. Authorities are working on these