MONEY LAUNDERING FOR ALL TRANSACTIONS IN BITCOIN
From joint BitCoin Annalysis team , a Bitcoin Forensic company has found that less than one percent of all Bitcoin transaction involves money laundering. Reports suggest that in a small or big market places the amount of Bitcoin laundering are the sources of almost illicit Bitcoins laundered coin services.
Such vast majority of Bitcoin laundering were processed in Europe receiving almost five times such illicit transaction as similar to North America. To combat such illicit activities more stringent anti money laundering measures are being taken into account.
As a matter of fact Bitcoin Exchange are under fire in India and many National Top Indian Banks have curtailed functionalities on exchange account. State Bank of India, Axis Bank, HDFC and ICICI Bank have taken strong actions towards Bitcoin Exchanges by either landing up in closing accounts or ending such functionalities.
Recently advocate Bikas Chatterjee has filed a PIL( Public Interest Litigation ) in Calcutta to impose urgent regulation on Bitcoin or any other Cryptocurrencies. However on the other side the international mood towards Bitcoin hhas tightened with the US Treasury Secretary , stating that G20 will execute work together ensuring that Bitcoin and other crypto currencies are properly regulated.
Crypto currencies and the Blockchain is also now going to be addressed by the President of the European Central Bank via a series of video on Feb. 1,2018 . ECB’s view on its technology whether Bitcoin will offer an alternative solution to traditional currencies will be addressed in this session. Three main topics will be covered by the European mass: Blockchain , Cryptocurrencies, Europes’ economic recovery and youth unemployment.
ECB launched Twitter opinion poll along with a series of talks held by Bank policy makers to observe the actual reaction of users. Central Bank on the other way round has been subjected to a debate to observe the view on Bitcoin to help ensure stabilities on economies to stand out of crowd.
The Adoption Trends conclude that 2017 was a crucial year for BitCoin, Bitcoin Exchange or any other Crypto currency. But it is also seen that in comparision to Bitcoin ,crypto gained mainstream media’s attention.
Nevertheless, the ECB’s Q&A session is going to be an interesting one with full bang.