• September 29, 2023


All the latest cryptocurrency news

Criminals Are Using DeFi Market to Move Funds: Europol Report

Reading time: < 1 minute

The French authorities are advocating for the regulation of the DeFi decentralized finance market, as they believe it is necessary to control transactions involving digital assets on a global scale.

The French Financial Markets Authority (AMF) stated in a June 2023 publication that special attention should be given to monitoring the activity of users on DeFi platforms.

This sentiment is shared by law enforcement agencies in the European Union, who advocate for transparency in the DeFi market.

According to a report by Europol, criminal organizations are taking advantage of DeFi protocols to launder illegal funds, highlighting the need for international cooperation to combat financial crimes involving digital currencies.

The agency also acknowledges the use of NFTs by criminals for money laundering. Europol emphasizes that one of the main advantages of DeFi and NFT projects is the ability to transfer tokens across borders, making it crucial for countries to work together to combat criminal activities.