Zavoli, I orcid.org/0000-0002-0162-1103 (2020) The use of cryptocurrencies in the UK real estate market: an assessment of money laundering risks. In: Benson, K, King, C and Walker, C, (eds.) Assets, Crimes and the State: Innovation in 21st Century Legal Responses. Transnational Criminal Justice . Routledge ISBN 9780429398834
Abstract
In recent years, cryptocurrencies have gained growing importance in various sectors, including the real estate market. This fact has spawned a debate about the money laundering risks of the use of cryptocurrencies for property transactions in the United Kingdom. Some think that cryptocurrencies have revolutionary effects on national economies and that they might bring benefits to the real estate market. However, the use of cryptocurrencies raises concerns for their compatibility with the existing UK anti-money laundering legislation. In particular, cryptocurrency transactions can create issues for the customer due diligence checks that the 2017 Money Laundering Regulations impose on real estate agents. This chapter addresses the topic, examining critically the money laundering risks of the use of cryptocurrencies in the UK real estate market. Through an analysis of the literature and with reference to the author’s empirical research findings, this study sheds light on the subject, providing some innovative perspectives for future legislative and policy action.
Metadata
Item Type: | Book Section |
---|---|
Authors/Creators: |
|
Editors: |
|
Copyright, Publisher and Additional Information: | This book chapter is protected by copyright. This is an author produced version of a book chapter published in Assets, Crimes and the State: Innovation in 21st Century Legal Responses. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | money laundering; cryptocurrencies; real estate; property transactions; shared governance |
Dates: |
|
Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Education, Social Sciences and Law (Leeds) > School of Law (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 12 Apr 2019 15:05 |
Last Modified: | 05 Aug 2021 00:38 |
Status: | Published online |
Publisher: | Routledge |
Series Name: | Transnational Criminal Justice |
Identification Number: | 10.4324/9780429398834 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:144572 |