Cryptocurrencies The pros, the cons and the unknown€¦ · Pros and cons of cryptocurrencies. RMCP...
Transcript of Cryptocurrencies The pros, the cons and the unknown€¦ · Pros and cons of cryptocurrencies. RMCP...
Cryptocurrencies The pros, the cons and the unknown
Agenda
Overview of the cryptocurrency ecosystem
Use cases for blockchain-type technology
Global and local regulatory developments
Pros and cons of cryptocurrencies
RMCP - Understanding ML / TF risks
Let’s recap
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Digital Cash Hashcash Bit Gold Bitcoin Whitepaper 1st Bitcoin >2,400 Cryptocurrencies
RMCP - Understanding ML / TF risks
Overview of the cryptocurrencies ecosystem
Crypto-
currencies
Users /
Exchanges
Miners
Blockchain
RMCP - Understanding ML / TF risks
Use cases for blockchain-type technology
RMCP - Understanding ML / TF risks
Use cases for blockchain-type technology
RMCP - Understanding ML / TF risks
Global and local regulatory developments
RMCP - Understanding ML / TF risks
Global and local regulatory developments
RMCP - Understanding ML / TF risks
• Seamless, almost instant payments
• Increased international use
• Lower transaction fees for remittances
• Transparency
• Increased security
• Financial inclusion
• Alternative use cases for cryptocurrencies, but
more specifically blockchain technology
Pros and cons of cryptocurrencies
RMCP - Understanding ML / TF risks
• Illicit use – Darknet, Money Laundering through
mules
• Investment scams
• Cybercrimes and ransomware
• ISIS using cryptocurrencies to funds terrorist
activities
• Price stability
• Circumvention of Exchange Control Regulations
• Use for tax evasion
Pros and cons of cryptocurrencies
RMCP - Understanding ML / TF risks
“Cryptocurrency ATMs are being installed around the world at a rate of nearly 9 per day.”
“Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.”
"It's gold for nerds."
Questions