Zavoli, I orcid.org/0000-0002-0162-1103 (2022) Cryptocurrencies Transactions in the UK Real Estate Market: Threat or Opportunity for Anti-Money Laundering? In: Goldbarsht, D and de Koker, L, (eds.) Financial Technology and the Law: Combating Financial Crime. Law, Governance and Technology Series . Springer , pp. 67-91. ISBN 978-3-030-88035-4
Abstract
In recent years, the use of cryptocurrencies in various sectors of national economies has become extremely popular, attracting praise and criticism. These transactions have sparked debate about the potential money laundering risks associated with the use of cryptocurrencies. In particular, these concerns pertain to their high-level anonymity and the danger of criminal infiltration of important economic sectors such as the real estate market. However, the discussion on the topic is quite scattered and unsatisfactory, with many unanswered questions and legislative initiatives that have only partially tackled the issue. This chapter focuses on the use of cryptocurrencies in the UK real estate market, assessing some of the critical points that emerge from their employment in property transactions. The UK real estate market is a particularly relevant case study. Indeed, recently, it has been at the centre of debate for its vulnerability to money laundering practices and the challenges it presents for implementing AML regulation. The author addresses the question of whether the use of cryptocurrencies represents a threat or an opportunity for the AML regime concerning the property sector. This study aims to identify key aspects that future legislative and policy actions should consider to strike a balance between using cryptocurrencies and the need to protect the real estate market from criminal activities.
Metadata
Item Type: | Book Section |
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Authors/Creators: |
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Editors: |
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Copyright, Publisher and Additional Information: | © 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG. This version of the article has been accepted for publication, after peer review (when applicable) and is subject to Springer Nature’s AM terms of use (https://www.springernature.com/gp/open-research/policies/accepted-manuscript-terms), but is not the Version of Record and does not reflect post-acceptance improvements, or any corrections. The Version of Record is available online at https://doi.org/10.1007/978-3-030-88036-1_4. |
Keywords: | Money laundering, Real estate, Cryptocurrencies, AML, United Kingdom |
Dates: |
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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: | 15 Jul 2021 15:00 |
Last Modified: | 04 Feb 2024 01:13 |
Status: | Published |
Publisher: | Springer |
Series Name: | Law, Governance and Technology Series |
Identification Number: | 10.1007/978-3-030-88036-1_4 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:176208 |