Anti-Money Laundering & Protection of Digital Assets

Anti-Money Laundering (AML) measures in the virtual asset sector

Course description:

This session covers topics related to hidden illegal identities, criminal identity,
and ownership of virtual assets. It also covers the challenges and opportunities that virtual assets present to the anti-money laundering and countering the financing of terrorism (AML/CFT) regime. Additionally, this session will explore the need for AML/CFT regulation of virtual assets, as well as the potential for using blockchain technology to trace funds and identify money launderers.

Learning objectives:

• Explain how cryptocurrency and virtual assets can be misused by money launderers and terrorism financing
• Discuss recent findings and challenges related to money laundering activities in offshore centers
• Discuss AML/CFT best practices in other countries and jurisdictions
• Explore methodologies for combatting money laundering using blockchain technology

Protection of Digital Assets under English Law

The increasingly important role of cryptocurrency and digital assets in the development of the digital economy demands the creation of a strong legal and regulatory regime that accommodates new technological innovations and the adoption of crypto and virtual assets. The introduction of virtual asset reporting frameworks is an important step toward establishing a robust regulatory environment for cryptocurrencies, digital tokens, virtual assets, and exchanges. This session explores the context of a published consultation paper in July 2022 covering foundational reforms to private property law related to virtual assets.

Learning objectives:

• Explain the importance of property rights in the context of digital assets, virtual assets, and data objects
• Identify different categories of personal property including digital assets
• Discuss factual and legal transfers of digital assets, virtual assets, and tokens
• Explore challenges and considerations for future implementation