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BIS Proposes Setting Compliance Scores for Cryptocurrencies to Prevent Illegal Fund Inflows

Summary: According to DL News, researchers at the Bank for International Settlements (BIS) have proposed a new anti-money laundering (AML) solution aimed at preventing illegal fund inflows by setting compliance scores for cryptocurrencies. The proposal suggests that 'blockchain users should be assigned security scores, and withdrawals for low-scoring users will be blocked.' Users will be scored ...

According to DL News, researchers at the Bank for International Settlements (BIS) have proposed a new anti-money laundering (AML) solution aimed at preventing illegal fund inflows by setting compliance scores for cryptocurrencies. The proposal suggests that 'blockchain users should be assigned security scores, and withdrawals for low-scoring users will be blocked.' Users will be scored based on the transfer history of their cryptocurrencies, and countries can set a threshold score to determine if users can exchange cryptocurrencies for fiat currency.

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