Manhattan District Attorney Watching Exchanges with "Intense Interest", Says They Can Help in Fighting Financial Crime

Manhattan district attorney, Cyrus R Vance Jr, has said that his department plans on monitoring the developments like the launch of Coinbase's bitcoin exchange with great interest. During a keynote address at the Association of Certified Anti-Money Laundering Specialists' (ACAMS) AML Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term Conference on Monday, he said the following without mentioning Coinbase by name:

"You may have seen news recently about an effort to ‘take Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mainstream’ by creating the first regulated bitcoin exchange for American customers. We are watching efforts like these with intense interest."

He explained that a regulated exchange can assist in law enforcement-related matters. The two would work collaboratively in examining cash flows and keeping the world safer from terror and financial crime.

"Unregulated currency makes this kind of conduct too easy, and too untraceable," he said.

Exchanges like Coinbase find themselves having to walk a fine line between catering to some of the passionate libertarians that are common in the Bitcoin community and running its highly compliant operation. It is not uncommon to find redditors posting complaints of Coinbase rejecting transactions due to their perceived riskiness.

Indeed, some expressed worry over government involvement in their trading soon after the launch was announced. However, traders may have to look ahead at which venues will be the most sustainable, and may have to make some difficult choices.