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– TIMESTAMPS –
0:00 Intro
2:21 Who wrote the Framework?
6:40 Half 1 – Fundamentals
8:39 Half 2 – legal guidelines and regulatory our bodies
10:51 Half 3 – Rules
12:45 Framework proper about crypto?
19:50 Ultimate Ideas

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⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️
► The complete Cryptocurrency Enforcement Framework:
► Deep internet and darknet defined:
► 1000x Group examine about crypto on the darknet:
► Monero defined:
► The BEST privateness cash:

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❓Who wrote the Framework? ❓

The Cryptocurrency Enforcement Framework was written by the Legal professional Common’s Cyber Digital Process drive, a 7-person staff with lengthy histories of expertise in intelligence and regulation. The Framework was written with the assistance of 14 contributors, solely considered one of whom appears to have in-depth data of cryptocurrency. It doesn’t prescribe any new laws.

The Framework appears a bit outdated and most of it was probably written in 2018-2019, shortly after the Cyber Digital Process drive was established. . There’s additionally a visual bias towards cryptocurrencies all through the whole doc.

🧐 Framework Half 1 🧐

The primary a part of the Framework does an excellent job of explaining the fundamentals of cryptocurrency. Nevertheless, it does a poor job of discussing the advantages of cryptocurrency. Solely 3-4 paragraphs of the whole doc are allotted to discussing advantages. The remainder of the doc, particularly the primary part, give attention to threats to particular person security and nationwide safety that cryptocurrency poses.

In line with the Framework, cryptocurrencies are used to: finance terrorism, conceal monetary actions, and commit crimes. Quite a few case research are given right here to assist these claims. Many of those relate to the usage of cryptocurrency on darknet markets. The Framework warns on this part that any cryptocurrency associated companies which violate laws may very well be topic to sanctions in the USA.

🗃 Framework Half 2 🗃

The second a part of the Framework particulars the assorted sections of the legal code that are related to cryptocurrency. Most of those contain numerous kinds of monetary crimes reminiscent of fraud. It additionally goes by way of the quite a few authorities businesses that are concerned in regulating cryptocurrencies. These are the DOJ, FinCEN, OFAC, OCC, SEC, IRS, and CFTC. These events additionally work with the FATF.

FinCEN needs all cryptocurrency associated merchandise, together with decentralized purposes reminiscent of decentralized exchanges, to require KYC documentation to make use of. The SEC is the authority which regulates preliminary coin choices.

👮‍♂‍Framework Half 3 👮‍♂‍

The third a part of the Framework discusses ongoing challenges confronted by regulators and doable future methods they intend to make use of. The DOJ notes that use of privateness cash is “indicative of doable legal exercise” and that they’re seldom auctioned off to the market when seized by authorities.

Refined warnings are given to these utilizing or working cryptocurrency mixers in addition to firms providing cryptocurrency companies to US residents which are situated abroad. The doc concludes by calling on cryptocurrency firms to assist governmental authorities write new laws for cryptocurrency.

🕵️‍♂‍Is the Framework proper? 🕵️‍♂‍

There’s little or no proof to indicate that cryptocurrency is being utilized by terrorists or to finance terrorist actions on a significant scale. To be honest, that info may very well be labeled. Whereas cryptocurrencies are used for monetary crimes, they’re removed from the popular methodology of cost for scams and cash laundering.

Cryptocurrency is the popular methodology of cost on the darknet markets. Nevertheless, only a few cryptocurrencies are accepted as cost by darknet markets. Privateness cash are additionally step by step changing into the popular methodology of cost on the darknet. It’s unclear how cryptocurrency stacks up towards fiat use on the darknet.

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📜 Disclaimer 📜

The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who just isn’t a licensed monetary advisor or registered funding advisor. Buying and selling cryptocurrencies poses appreciable threat of loss. The speaker doesn’t assure any explicit end result.

#crypto #regulation #bitcoin #framework #darknet #monero #doj

Source: Coin Bureau