Money laundering is the process of creating illegally gotten money that appears to be clean repeatedly over complex bank transfers and transactions. It is called money laundering.
Maxim Kurbangaleev on the difficulties of the crypto market
Cutting-edge 2020-2021, the entire article altered: the national & its guiding governments might no longer break absent as of the multibillion-dollar professional. Certain experts (aimed at instance, China) must betroth energetic activities to veto cryptocurrencies to protect their economic classification; others, on the contradictory, must genuine in collaboration with the cryptocurrency the above-mentioned & influences thru its tradition, loud it to the equal of allowable capital of payment.
In September 2021, it go available to be recognized as close to the chief condition of consent in a flaw of a cryptocurrency company — an over-the-counter ++++++++agent or, simply put, a crypto exchange — SUEX. The US Office of Foreign Assets Control (OFAC) and Chainalysis (a company offering verification services) participated in the investigation. According to them, SUEX was engaged in money laundering, and the volume of their illegal operations exceeded 480 million dollars.
The trend of mass inspections and the application of sanctions continued. Some crypto exchanges and exchange platforms were blocked. However, this was not the only problem of the cryptocurrency market in 2022. Financial expert Maxim Kurbanaliev shares his opinion on what is happening in the crypto sphere now, what caused the current downturn, and what will stabilize the situation.
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What is wrong with the crypto market? – Maxim Kurbangaleev
The cryptocurrency market is now in a so-called “bearish trend” when the price of the currency is decreasing. Some market analysts call this period the “crypto winter”: along with prices, market capitalization is also decreasing, the volume of transactions is falling, and the participants of operations are in a pessimistic mood.
Other experts predict the collapse of blockchain technology with the preservation of only a few of the most famous cryptocurrencies. The difficult macroeconomic situation, global inflation, and the slowdown in the economy, in general, do not help businesses to develop. Maxim Kurbangaleev believes that the cryptocurrency market has several specific problems, which triggered this fall:
“No doubt, the situation in the world has an impact on cryptocurrency activity. These are factors that are difficult to influence, but there are too persons that can be functioned out. I have faith that the absence of guidelines of the compass is a vast drawback, which tips to several difficulties. Deprived of control, the market can appeal to unprincipled contributors: rip-off schemes, pyramids, money launderers, and others. Minus the distinct supplies of the controller for the documentation and intensive care of processes, it is problematic to catch rid of such prohibited arrangements.
This, in a crack, transmits the danger of defilement of the cryptocurrency of blameless operators who acquire it in crypto interactions or exchange platforms. How it is trendy now: even if the exact first chunk in the blockchain covers statistics that the cryptocurrency approved concluded a previously disqualified scheme, then the user’s slip obtains a superior label. Folder purposes might be controlled or even reserves on it may be jammed. The user is answerable for other people’s movements. And this badly behaved is associated with the absence of lawmaking when the accountability of folder landlords is not imperfect,” Maxim Kurbangaleev says.
For a similar reason, unlawful crypto action remains high risk. The assessment of cryptocurrencies is not measured in an arranged manner, therefore; every occasion (even a post on a public network) can source the upsurge or decrease of a specific cryptocurrency. “The guideline of the market will offer some steadiness and assurance.
