We already learn about a lot of stuff about bitcoin, bitcoin exchange network. But now we are going to understand about a main factor which will affect the legalization of a bitcoin exchange platform.
So what is that factor ?
Money laundering – Yep, Money laundering, is an activity of concealing the origin of illegal money. Now many of the bitcoin exchange websites witnessed illegal money laundering activities through bitcoin.
These unwanted activities are directly affects the good will of bitcoin, & the entire cryptocurrency network.
So, It is a very important responsibility for bitcoin exchange platforms to prevent such anonymous transactions.
How can a bitcoin exchange platform prevent money laundering ?
Through Integrating AML technology,(i.e ) Anti Money laundering law, which is a set of procedures and laws, purposely designed for preventing the illegal money laundering activities.