Anti-Money Laundering

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Anti-money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent, detect and report money laundering activities.

Bitcoin exchanges may be considered to be money service businesses, or money transmitters possibly even, depending on the jurisdiction. For money service businesses and money transmitters operating in the U.S., the Bank Secrecy Act (BSA) is the regulation the requires specific AML-related recordkeeping and reporting actions.

See Also

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