As federal investigators continue to pursue illicit online vendors in the wake of its high-profile prosecution of Silk Road, they will face two hurdles: evolving data-encryption and an atomized black market.
Decentralized finance, a subset of the cryptocurrency industry that has expanded dramatically over the past 18 months, still lacks basic anti-money laundering controls such as transaction monitoring and know-your-customer processes.
Binance, the world's largest cryptocurrency exchange and target of regulatory scrutiny and criminal investigations in Europe and the U.S., wants to counter the notion that virtual assets facilitate criminality on a large scale.