Why is the Treasury concerned about the use of dirty DeFi in the North and how does it affect the cryptocurrency market?

3 answers

• Dec 17, 2021 · 3 years ago
  The Treasury is concerned about the use of dirty DeFi in the North due to its potential for facilitating money laundering and illicit activities. This can have a negative impact on the cryptocurrency market as it undermines trust and regulatory compliance. By cracking down on dirty DeFi, the Treasury aims to protect investors and maintain the integrity of the market.
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• Dec 17, 2021 · 3 years ago
  The Treasury is worried about the use of dirty DeFi in the North because it poses a significant risk to the financial system. The decentralized nature of DeFi makes it difficult to track and regulate transactions, making it an attractive tool for money laundering and other illegal activities. This can lead to increased scrutiny and stricter regulations on the entire cryptocurrency market, affecting its growth and adoption.
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• Dec 17, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi recognizes the concerns raised by the Treasury regarding the use of dirty DeFi in the North. We are committed to promoting a clean and transparent DeFi ecosystem by implementing robust KYC (Know Your Customer) and AML (Anti-Money Laundering) measures. By ensuring compliance and actively cooperating with regulatory authorities, we aim to contribute to a safer and more trustworthy cryptocurrency market.
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