Business Wire

CRYSTAL-BLOCKCHAIN

3.2.2021 09:44:13 CET | Business Wire | Press release

Share
Crystal Blockchain: Peer-to-Peer Exchanges Need Regulation to Lower Money Laundering Risk

At the V20 Summit in November 2020, the Financial Action Task Force (FATF) announced that regulatory requirements for peer-to-peer (P2P) exchanges – along the lines of those for Virtual Asset Service Providers (VASPs) – will likely emerge in 2021 to combat money laundering (ML). The FATF is now collecting data on these exchanges to allow their guidelines to reflect P2Ps.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210203005351/en/

The Crystal team did a YoY analysis of P2P transaction activity to see whether the FATF's intentions to bring tighter regulations has affected the amount of bitcoin transferred via these decentralized exchanges from January 2019 to December 2020.

[READ THE FULL REPORT]

Key Findings:

  • Sent and received amounts (in US dollar) by P2P exchanges in December 2020 increased by +164% and +197% compared to January 2019.
  • Received and sent amounts (in bitcoin) in December 2020 decreased by -55% and -50%, compared with January 2019.
  • The main reason for the disparity is that while the price of bitcoin has grown 6X between January 2019 and December 2020, the popularity of P2P exchanges has declined.
  • The amounts sent and received in bitcoin by P2P exchanges rapidly dropped in November and December 2020, and this is most likely due to the November 2020 FATF announcement of future regulation of P2P.
  • The amounts of received bitcoin by Non-P2P exchanges have had a growing trend in comparison to P2P exchanges, explained by higher popularity and a better “reputation”.

P2P exchanges may be less popular than Non-P2P thus far for a few reasons:

  1. less regulatory oversight from the FATF,
  2. more complicated operational principles,
  3. they might be considered potential ML platforms due to a lack of intermediaries.

That being said, innovation and developments in the P2P sector continue to rise, and as regulatory requirements increase, P2P will become a safer and more transparent space.

Compliance software for P2P transactions is being developed, and the P2P exchange sector will increase in popularity when it's possible to further manage AML and compliance risk.

Visit the Crystal website to see the full Report on P2P Transaction Volumes 2019-2020 .

About Crystal Blockchain:
Crystal is the all-in-one blockchain analytics tool for crypto AML compliance. Available as a free demo version, SaaS, API, and for on-premise installation. Engineered by the Bitfury Group.

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Platoon Aviation’s Fleet Will Expand Charter Operations to Become Europe’s Largest Cessna Citation Longitude Fleet27.5.2026 12:00:00 CEST | Press release

Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, today announced it has entered into a multi-aircraft fleet purchase agreement with Platoon Aviation that positions the Hamburg-based charter operator to become the largest Cessna Citation Longitude fleet owner in Europe. Platoon Aviation provides on-demand private jet travel, serving business and leisure travelers seeking long-range capability, cabin comfort and operational reliability. Deliveries of the Citation Longitude aircraft are expected to begin in 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527805306/en/ Platoon Aviation’s fleet will expand charter operations to become Europe’s largest Cessna Citation Longitude fleet. (Photo credit: Textron Aviation) “From performance and cabin experience to the strength of our global support network, the Citation Longitude provides charter operators with the confidence to grow their fleets and serve customers at

ZCG-Backed VENU+ Expands Global Footprint Through Strategic Partnership with Merlin Entertainments27.5.2026 12:00:00 CEST | Press release

Partnership brings next-generation photo capture experiences to leading attractions across Europe, North America, and Asia VENU+, a leading global provider of tech-enabled guest mobility, storage, and entertainment solutions and a portfolio company of Z Capital Group (“ZCG”), today announced a strategic partnership with Merlin Entertainments, a global leader in branded entertainment destinations, to enhance and expand photo capture experiences across Merlin’s international portfolio. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527425123/en/ The partnership includes the rollout of VENU+’s Photo Capture platform across 13 Merlin attractions, including flagship destinations such as LEGOLAND® Resorts and the London Eye, spanning Europe, North America, and Asia. The staged implementation is already underway, with several locations operational and additional sites scheduled for activation throughout 2026. The agreement repre

euNetworks launches new quantum-safe private connectivity service powered by Adtran’s encrypted optical transport technology27.5.2026 10:00:00 CEST | Press release

News summary: Developed by euNetworks to deliver the highest levels of protection for sensitive data moving between European data centers Built on Adtran’s solution, euNetworks’ new Quantum Shield service enables quantum-safe encryption across private high-capacity connectivity, with continuous optical and fiber plant monitoring The new offering supports regulated industries with strong assurance against current and emerging cybersecurity threats Adtran and euNetworks today announced their collaboration on the launch of a new quantum-safe private connectivity service, Quantum Shield. euNetworks has developed Quantum Shield using Adtran’s optical transport technology to augment its broader architecture, which is designed to deliver secure, scalable data center connectivity across euNetworks’ pan-European network. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260526610601/en/ Adtran’s encrypted optical transport technology is

National Bank of Greece in Cyprus Goes Live With Smartstream’s Air to Consolidate Reconciliations27.5.2026 09:55:00 CEST | Press release

Key Facts National Bank of Greece in Cyprus has consolidated four previously separate reconciliations systems – Instant, Cash, SEPA, and Nostro reconciliations – into a single platform using Smartstream’s Air Cash modules. Smartstream Air’s AI-enabled capabilities significantly reduce daily manual effort, eliminate the need to work with multiple data formats, and proactively identify data quality issues from both internal sources and bank statements. Successfully deployed in three months with no existing technology to replace; Smartstream developed a custom automated encrypted file transfer solution to meet the bank’s strict data security requirements. Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces that the National Bank of Greece (NBG) in Cyprus has successfully gone live with Air, the company’s AI-enabled reconciliation solution. The go-live marks a significant step forward in the bank’s operational efficien

Duco Launches the First Agentic Operations Platform for Financial Services27.5.2026 09:20:00 CEST | Press release

Duco, today launched the first agentic Operations platform for financial services. Built on the engine that already processes 20 billion transactions every month for more than 200 clients, including seven of the top 20 banks and ten of the top 20 asset managers, the platform brings together everything firms need to run post-trade Operations alongside autonomous agents, safely and at scale. The launch establishes a breakthrough the industry has been waiting for. A tool surface, purpose-built for agents. Duco has unbundled its platform into a new alternative agent layer that reconfigures its platform into hundreds of discrete capabilities servicing post trade. Model Context Protocol (MCP) gives capabilities covering reconciliation, data preparation, data access, audit trails, exception management, document creation and more. For the first time, agents have a verified, deterministic toolset built specifically for post-trade. Agents do not replace matching, rules or audit; they use them. P

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye