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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Hong Kong Monetary Authority Sees Blockchain as a Money Laundering Risk

Posted on 16 November 2016

A recent assessment from the Hong Kong Central Bank has warned that blockchain could increase the risk of money laundering, according to The Business Times. In a study, the HKMA said even though bitcoin’s distributed ledger could save on cost and cut down on time, it also had the potential to provide criminals with a way of undertaking illegal activities.
Shu Pui Li, the central bank’s executive director for financial infrastructure, said at a HKMA FinTech Day presentation that: [Blockchain offers] good potential, but a lot of things need to be addressed………………………………….Full Article: Source


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