Cryptocurrencies and the prevention of Money Laundering

The European Parliament and the Council of the European Union is doing its best to take up with the technological changes and innovation. It has presented an amendment to 4th AMLD to regulate all cryptocurrency exchanges in EU. It is also the intention to look into the possibility of regulating the exchanging under an existing directive which is the payment services directive.

At IGA we assist our clients to set up their own Initial coin offerings (ICOs) which have recently became a primary means of fundraising for their business development built on the blockchain technology. Unfortunately so far this is currently being done without any regulatory oversight. This has caused a chaos of worries around the world of a possible widespread of money laundering and fraud.

It is our expertise to help you achieve trust from investors taking part into your ICO which in some way is a type of crowdfunding to help you reach new heights within your business sphere.

Within our team we have experts which can advise you on which level of Know Your Customer (KYC) checks one should embark in order to keep in line with the 4th AMLD. It is very important that you remain consistent and transparent throughout your process. Some ICOs in certain countries are considered as securities and therefore require some level or regulation.

Blockchain technology and Initial coin offerings (ICOs) are developing into a new economic force the world has not seen in recent decades. It is our recommendation that you setup your ICO in line with any prospective legislation whilst conducting the necessary due diligence checks.

IGA shall be attending the SIGMA expo in Malta this November.

Should you wish to discuss anything please do not hesitate to get in contact with us on [email protected], or visit our website for further information.