Express
Jamal El-Hindi:Social Media Companies That Tokenize Must Follow the Law
Summary: Jamal El-Hindi, deputy director of the Financial Crimes Enforcement Network (FinCEN), said that these "new payment technologies" must maintain the same anti-money laundering criterion as existing financial institutions to prevent people from exploit money loophole. He believes social media, messaging platforms, and other cryptocurrency platforms should not ignore the illegal transactions they may cause. Cindy ...
Jamal El-Hindi, deputy director of the Financial Crimes Enforcement Network (FinCEN), said that these "new payment technologies" must maintain the same anti-money laundering criterion as existing financial institutions to prevent people from exploit money loophole.
He believes social media, messaging platforms, and other cryptocurrency platforms should not ignore the illegal transactions they may cause.
Cindy stand that the same viewpoint with Jamal, he pointed that financial industry is in an "evolutionary state" due to the emergence of virtual currencies. He said developers, from agencies to regulators, must be alert to potential crypto-related crimes.
Tags: Cryptocurrency,FinCEN,Social Media
Link: Jamal El-Hindi:Social Media Companies That Tokenize Must Follow the Law [Copy]
