As Bitcoin values continue to head skywards, much is underway behind the scenes by Governments and Regulators to provide for more transparent ownership.
The OECD is already considering how the Common Reporting Standard (CRS) can be extended to ensure the automatic cross border reporting of holders of crypto assets. Section 1.2.6 of the latest OECD report on their continuing work to counter professionals who 'enable' tax evasion, money laundering and other crime, brings further comment on some of the specific risks posed from crypto transactions.
I would expect to see significant acceleration over the coming months on the crypto transparency debate.
Professional enablers may facilitate the laundering of proceeds of crime through the use of a crypto-asset mixing service (CMS). A CMS is a paid service that has the potential to allow criminal actors to mix their criminally derived crypto-assets with legitimate crypto-assets of other users, in order to obscure the token trail and attempt to launder “tainted” crypto-assets through anonymisation.
