Blockchain and Cryptocurrency
AML, or Anti-Money Laundering, refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. In the context of cryptocurrency exchanges and trading platforms, AML is crucial for ensuring compliance with legal standards and safeguarding the integrity of the financial system. Implementing AML measures helps these platforms detect and report suspicious activities, thus protecting themselves from being exploited for illicit transactions.
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