A Study on Cryptocurrency and Anti-Money Laundering: Legal Challenges and Regulatory Approaches

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Section 1: Chinese Reference Books

  1. Paul Vigna & Michael J. Casey (Trans. Lin Yi-Ling). 2006. The Age of Cryptocurrency: How Bitcoin and Digital Money Challenge the Global Economic Order. Taipei: Dapai Publishing.
  2. Don Tapscott & Alex Tapscott (Trans. Chen Yi-Li, Li Fang-Ling). 2017. Blockchain Revolution: How Bitcoin Technology Changes Money, Business, and the World. Taipei: Commonwealth Publishing.
  3. Yan Xing-Fang. 2014. The King of Currency: Bitcoin. Taipei: DaoTian Publishing.
  4. Niu Wen-Ying. 2018. Qualitative Research Methods and Thesis Writing. Taipei: Shuangye Books.
  5. Lin Shun-Yi & Qiu Jin-Tian. 2019. Practical Guide to Anti-Money Laundering Laws. Taipei: Yuanzhao Publishing.

Section 2: English Reference Books

  1. National Crime Agency. 2015. National Strategic Assessment of Serious and Organised Crime. p. 73.
  2. IOCTA. 2015. The Internet Organised Crime Threat Assessment. EUROPOL. p. 40.
  3. Chainalysis. 2019. Crypto Crime Report. UK. p. 11.
  4. Financial Crimes Enforcement Network (FinCEN). 2014. Application of FinCEN’s Regulations to Virtual Currency Software Development. FIN-2014-R002.

Section 3: Academic Journals

  1. Yang Jia-You. 2018. "Can Bitcoin Become a Mainstream Currency in the New Economy?" Economic Outlook, 175: 96–97.
  2. Huang Jing-Xiang. 2018. "Investment Trends in Blockchain Technology." Taiwan Economic Research Monthly, 41(11): 57.

Section 4: Official Documents

  1. Taiwan Ministry of Justice. 2016. Annual Report on Anti-Money Laundering.

Section 5: Theses

  1. Jia Fu-Ping. 2018. Research on Anti-Money Laundering for Cryptocurrencies. National Taiwan University.
  2. Li Jian-De. 2018. Study of Cryptocurrency Regulations in AML Frameworks. Taiwan University Law School.

Section 6: Online Resources

  1. Financial Action Task Force (FATF). 2014. Virtual Currencies: Key Definitions and AML/CFT Risks.
  2. World Food Programme. 2018. Bitcoin Use in Syrian Aid.
  3. Satoshi Nakamoto. 2008. Bitcoin: A Peer-to-Peer Electronic Cash System. Read here.

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FAQs

Q1: How does cryptocurrency facilitate money laundering?
A1: Cryptocurrencies offer pseudonymity and decentralization, making transactions harder to trace compared to traditional banking systems.

Q2: What are the key AML regulations for virtual currencies?
A2: The FATF recommends a "Travel Rule," requiring VASPs to share transaction data for transfers above $3,000.

Q3: Which cryptocurrencies are most associated with illegal activities?
A3: Privacy coins like Monero (XMR) and Zcash (ZEC) are often flagged due to enhanced anonymity features.

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Keywords

  1. Cryptocurrency
  2. Anti-Money Laundering (AML)
  3. Blockchain
  4. FATF Travel Rule
  5. Privacy Coins
  6. Regulatory Compliance
  7. Decentralized Finance (DeFi)
  8. Financial Crime