16 Major Crypto Companies Join EU Police In An Event To Prevent Money Laundering
About sixteen major crypto exchanges, payment processors and wallet providers have recently joined the European Union Agency for Law Enforcement Cooperation (Europol) in an event which is part of an agency effort to prevent international money laundering.
This conference against money laundering began on Tuesday, in Hague, and lasted for three days. It had authorities from many European countries and the main issues that were discussed during the conference were about tracing people doing illegal activities and thwarting services for hiding funds like coin mixers.
An Effort Against International Money Laundering (And Privacy?)
A spokesperson from the event told the media that the attendees at the conference talked primarily about the abuses of people using virtual currencies to commit crimes and how to enhance the capabilities of law enforcement by cooperation with companies from the cryptocurrency field.
One of the issues that were talked about during the conference was to create a system that could track transactions better, a centralized ledger that could be used to notify the authorities as some companies are already doing.
Many people argue that this would curb privacy, which is one of the most important aspects of the crypto industry, but they seem to be losing that battle in the mainstream field.
Even without the help of the companies, the Europol was able to apprehend an international gang that was hacking ATMs and using cryptos to spend the money, so it looks like the authorities already have a lot under control.