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Risk management and money laundering supervision of virtual currency service providers

Author

Listed:
  • Kristina Trajkovic

    (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.

Suggested Citation

  • Kristina Trajkovic, 2023. "Risk management and money laundering supervision of virtual currency service providers," Working Papers Bulletin 17, National Bank of Serbia.
    • Handle: RePEc:nsb:bilten:17
    as

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    File URL: https://www.nbs.rs/documents-eng/publikacije/wp_bulletin/wp_bulletin_09_23_3.pdf
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    More about this item

    Keywords

    regulation; digital assets; virtual currency; supervision; money laundering; abuse;
    All these keywords.

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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