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AML and KYC: A catalyst for mainstream crypto adoption

Published 08/14/2022, 06:30 AM
Updated 08/14/2022, 08:00 AM
AML and KYC: A catalyst for mainstream crypto adoption
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For Satoshi Nakamoto, the creator of Bitcoin (BTC), the motivation to create a new payment ecosystem from scratch in 2009 stemmed from the economic chaos caused by the banking sector’s over-exuberant and risky lending practices mixed accompanied by the bursting of the housing bubbles in many countries at the time.

“And who do you think picked up the pieces after the fallout? The taxpayer, of course,” said Durgham Mushtaha, business development manager of blockchain analytics firm Coinfirm, in an exclusive interview with Cointelegraph.

Snippet from the Bitcoin whitepaper. Source: bitcoin.org
Worldwide CBDC initiative overview. Source: atlanticcouncil.org

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