Central banks should work with regulators, tax agencies and financial intelligence units to ensure that private lenders “do not facilitate unscrupulous behavior” involving bitcoins and other digital currencies, the head of the Bank for International Settlements said Tuesday. Agustin Carstens, general manager of the Basel, Switzerland-headquartered consortium of more than 60 central banks, said in a speech in Germany that digital currency exchanges should comply with the same rules as money transmitters and other payment services providers to retain access to the formal financial system. “It is alarming that some banks have advertised ‘Bitcoin ATMs’ where you can buy and...
A number of U.S. digital currency exchanges are struggling to adapt their anti-money laundering programs to accommodate a deluge of new customers, sources told ACAMS moneylaundering.com.
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