In the Headlines
July 2, 2024

How Robust Is Int'l Cooperation Against Financial Scams?

Financial Services Advisor, The Dialogue

Litigation attorney Andrew Balthazor was interviewed by The Dialogue's Financial Services Advisor about the regulatory challenges presented by cryptocurrencies as a result of the borderless nature of their transactions in combination with their attraction to fraudsters. He highlighted the inconsistent global regulatory landscape surrounding the crypto industry, which allows for jurisdictional arbitrage by those aiming to bypass anti-money laundering laws. Mr. Balthazor also underscored the need for consistent regulations to effectively combat crypto-related scams and money laundering.

"Until there is uniformity among jurisdictions, however, the borderless feature of digital assets will continue to pose challenges to authorities seeking to prevent crypto scams and money laundering," he said.

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