Cryptocurrencies The pros, the cons and the unknown€¦ · Pros and cons of cryptocurrencies. RMCP...

Cryptocurrencies The pros, the cons and the unknown

Agenda

Overview of the cryptocurrency ecosystem

Use cases for blockchain-type technology

Global and local regulatory developments

Pros and cons of cryptocurrencies

RMCP - Understanding ML / TF risks

Let’s recap

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Digital Cash Hashcash Bit Gold Bitcoin Whitepaper 1st Bitcoin >2,400 Cryptocurrencies

RMCP - Understanding ML / TF risks

Overview of the cryptocurrencies ecosystem

Crypto-

currencies

Users /

Exchanges

Miners

Blockchain

RMCP - Understanding ML / TF risks

Use cases for blockchain-type technology

RMCP - Understanding ML / TF risks

Use cases for blockchain-type technology

RMCP - Understanding ML / TF risks

Global and local regulatory developments

RMCP - Understanding ML / TF risks

Global and local regulatory developments

RMCP - Understanding ML / TF risks

• Seamless, almost instant payments

• Increased international use

• Lower transaction fees for remittances

• Transparency

• Increased security

• Financial inclusion

• Alternative use cases for cryptocurrencies, but

more specifically blockchain technology

Pros and cons of cryptocurrencies

RMCP - Understanding ML / TF risks

• Illicit use – Darknet, Money Laundering through

mules

• Investment scams

• Cybercrimes and ransomware

• ISIS using cryptocurrencies to funds terrorist

activities

• Price stability

• Circumvention of Exchange Control Regulations

• Use for tax evasion

Pros and cons of cryptocurrencies

RMCP - Understanding ML / TF risks

“Cryptocurrency ATMs are being installed around the world at a rate of nearly 9 per day.”

“Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.”

"It's gold for nerds."

Questions