AML ineffectivenesshttps://t.co/qi986zwjpHRon Pol, PhD (@ronaldpol):AML/CFT, KYC, profoundly ineffective:Summaryhttps://t.co/Zst7vw2ZtxAML ineffective1 https://t.co/o6UbJYtinX2 https://t.co/go40mz21CaAML "effectiveness" ratings fail3 https://t.co/YNdzeKRdsD#AML fails to use own data4 https://t.co/3bvKkq9MWa5 https://t.co/XMBc0WGF27 https://t.co/SdgxCTDgZO ...

According to Galaxy Research Head Alex Thorn, the U.S. Treasury submitted a report to Congress under the GENIUS Act recommending that DeFi applications be subject to AML/CFT obligations and proposing a digital asset “hold law” safe harbor, allowing institutions to temporarily freeze suspicious funds during investigations without a court order. The report also noted rising crypto-related crime, with the FBI recording about $9 billion in crypto fraud losses in 2024.https://t.co/5bU4MEEFCT ...