Canadian financial regulators are concerned about the anonymous characteristics of the chain


nnnIt is worrying that the Canadian Financial Transactions and Reporting Analysis Center (FINTRAC) suggests that the anonymous features of digital currency trading may contribute to money laundering and terrorist financing, according to the Globe and Mail. The agency spokesman also said it would conduct research to deal with this threat to protect the security of the Canadian financial system.n
nnTranslated by: Inan
nAccording to a recent report, the Canadian financial intelligence agency, the Canadian Financial Transactions and Reporting Analysis Center (FINTRAC), is concerned about the role of digital money in crime and policing issues because the technology has anonymous features.n
nThe Globe and Mail quoted the FINTRAC documents and statements in the report, noting that officials had repeatedly said that the agency needed to develop new technologies to better analyze the financial data generated by the application of block-chain technology for more applications – both Is in the encrypted “anonymous” circumstances.n
nMoney laundering is a region of particular concern, and reports that Canada’s anti-money laundering system has been criticized by the Canadian Senate Committee and the FATF Task Force.n
nHowever, FINTRAC said that by analyzing the digital currency address and other traces, you can also analyze the transaction to some extent.n
nThe agency’s report wrote:n
nn”In these systems, the user alias operation with a pseudonym, which left a variety of data (such as digital currency address), especially in their own did not pay attention to hide the identity of the data left, can be used to link the transaction and individuals Then
nnAccording to reports, FINTRAC spokesman Darren Gibb said the agency will take action to address the new threats posed by digital money.n
nHe wrote in the message:n
nn”Our research will confirm the need to cover new entities or adjust reporting requirements to address any threat to the Canadian financial system by money laundering or terrorist financing through these new entities and transactions.”n

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