Risk management and money laundering supervision of virtual currency service providers

Kristina Trajkovic
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Kristina Trajkovic: National Bank of Serbia

Working Papers Bulletin from National Bank of Serbia

Abstract: Prevention of money laundering and other abuses in the digital assets sector is a major step in the preservation of financial system stability. Non-alignment of regulatory regimes in an environment of rapid market development creates a potential for abuse and illicit activities. Monitoring the market requires systematic analysis in order to define clear guidelines for mitigating identified risks. Regular implementation of risk assessment and the regulator’s supervisory function facilitate the identification of the riskiness of the entire digital assets sector. In addition to an overview of regulations and standards governing the prevention of money laundering, the paper looks into the risks to which the digital assets sector is exposed, including the conduct of supervision and, in this sense, implementation of the risk-based approach.

Keywords: regulation; digital assets; virtual currency; supervision; money laundering; abuse (search for similar items in EconPapers)
JEL-codes: E30 G18 K20 K23 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2023-09
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon, nep-pay, nep-rmg and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:nsb:bilten:17

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