Alexander Geralis, the Chief Product Officer of cXchange, has spoken to BloxLive TV commenting on the latest crypto news, in particular, some of the most popular social networks’ plans to launch their coins and money laundering in crypto, or rather lack thereof.
Facebook and Telegram Launching Their Own Cryptocurrencies
With the recent New York Times’ look into possibilities of Facebook launching a cryptocurrency and Telegram considering to distribute their own tokens to users, it looks like blockchain is finally being worked into applications to allow seamless instant and secure transactions between users.
In his interview with BloxLive TV discussing this news, Alexander covered:
- How important Facebook and Telegram tokens are for the market,
- If these currencies might be permissionless,
- Wechat as an example of broad adoption of a digital wallet and electronic currency,
- What traditional crypto users might think of these tokens,
- If adoption of these currencies might take the lead over big caps.
Money Laundering and Crypto Lack Thereof
According to the recent report from the National Police Agency of Japan, money laundering is on the rise. Cryptocurrencies are often singled out as high risk for laundering and illegal activities. But, is this really true? The last calendar year has seen record-breaking fines handed out to banks failing to sufficiently oversee AML/KYC requirements, which became a normal quarterly happening for many of them.
Alexander and BloxLive TV have gone over some of the figures and if crypto really is as high risk as many are being led to believe, covering:
- Banks as a medium of laundering,
- Crypto overcoming it’s ‘sin’ period and a weak tool for laundering,
- Anti-Money Laundering 5th Directive scope regarding cryptocurrencies,
- Money laundering in Japan up, but still only 0.02% done with crypto.