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CoinDesk Podcast Network
FIRST MOVER: Crypto Needs 'More Enforcement': Former White House Official Carole House
Jun 6, 2024
Former White House Official Carole House discusses illicit financial risks with cryptocurrencies on the podcast. She emphasizes the importance of compliance and cybersecurity measures within the crypto industry. The conversation covers concerns over crypto use in illicit activities and the need for collaboration with regulatory frameworks. It also highlights the significance of international information sharing and enforcement to combat criminal activities in the crypto space.
06:17
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Quick takeaways
- Crypto faces rising illicit finance risks, especially targeted by North Korea on DeFi platforms.
- Global AML enforcement and information sharing crucial to combat money laundering in the cryptocurrency sector.
Deep dives
Growing Threat of Illicit Finance in the Crypto Space
The podcast episode highlights the increasing risk of illicit finance in the cryptocurrency realm. It emphasizes how actors like North Korea have shifted their tactics towards targeting DeFi platforms due to weaker cybersecurity compared to traditional banking systems. The discussion also underlines the importance of enhancing compliance measures and international cooperation to combat illicit activities. Despite the US leading in anti-money laundering efforts, there is a call for more global enforcement to address vulnerabilities exploited by criminal networks.
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Discover
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