Reconstructing Crypto Asset Regulation for Effective Prevention and Eradication of Money Laundering and Terrorist Financing

Garda T. Paripurna; Adi Sulistiyono; Hartiwiningsih Hartiwiningsih; Yunus Husein

doi:10.2991/978-2-38476-218-7_25

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Reconstructing Crypto Asset Regulation for Effective Prevention and Eradication of Money Laundering and Terrorist Financing

Authors

Garda T. Paripurna¹^{, *}, Adi Sulistiyono², Hartiwiningsih Hartiwiningsih³, Yunus Husein⁴

¹Faculty of Law, Universitas Sebelas Maret, Jl. Ir Sutami No.36, Kec. Jebres, Surakarta, 57126, Jawa Tengah, Indonesia

²Faculty of Law, Universitas Sebelas Maret, Jl. Ir Sutami No.36, Kec. Jebres, Surakarta, 57126, Jawa Tengah, Indonesia

³Faculty of Law, Universitas Sebelas Maret, Jl. Ir Sutami No.36, Kec. Jebres, Surakarta, 57126, Jawa Tengah, Indonesia

⁴Faculty of Law, Universitas Indonesia, Jl. Prof. Mr Djokosoetono, Depok, Jakarta, 16424, Jawa Barat, Indonesia

^*Corresponding author. Email: garda.paripurna@uns.ac.id

Corresponding Author

Garda T. Paripurna

Available Online 22 February 2024.

DOI: 10.2991/978-2-38476-218-7_25 How to use a DOI?
Keywords: crypto; regulatory; money laundering; terrorist financing
Abstract: The rapid proliferation of crypto assets presents an urgent need to reconstruct regulatory frameworks to address the escalating challenges of money laundering (AML) and terrorist financing (TF). This abstract advocates for a strategic overhaul, emphasizing the necessity of adapting regulations to the dynamic and borderless nature of the crypto landscape. The reconstruction effort involves leveraging cutting-edge technologies, including blockchain analytics and artificial intelligence, to enhance regulatory capabilities for monitoring and tracing crypto transactions. By incorporating these tools, regulators can establish a more robust system for preventing and eradicating illicit financial activities within the crypto sphere. The abstract highlights the importance of fostering international collaboration among regulatory bodies, law enforcement agencies, and industry stakeholders. Establishing standardized global regulatory frameworks is proposed as a pivotal step to create a unified front against financial crimes, eliminating regulatory arbitrage and promoting a cohesive approach to addressing AML and TF challenges. In conclusion, this abstract underscores the exigency of reconstructing crypto asset regulation to prevent and eradicate money laundering and terrorist financing effectively. By acknowledging the distinctive features of crypto assets and embracing technological innovations, regulators can fortify the integrity of financial systems and cultivate responsible crypto asset usage on a global scale.
Open Access: Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title: Proceedings of the International Conference On Law, Economic & Good Governance (IC-LAW 2023)
Series: Advances in Social Science, Education and Humanities Research
Publication Date: 22 February 2024
ISBN: 10.2991/978-2-38476-218-7_25
ISSN: 2352-5398
DOI: 10.2991/978-2-38476-218-7_25 How to use a DOI?
Open Access: Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

ris enw bib

TY  - CONF
AU  - Garda T. Paripurna
AU  - Adi Sulistiyono
AU  - Hartiwiningsih Hartiwiningsih
AU  - Yunus Husein
PY  - 2024
DA  - 2024/02/22
TI  - Reconstructing Crypto Asset Regulation for Effective Prevention and Eradication of Money Laundering and Terrorist Financing
BT  - Proceedings of the International Conference On Law, Economic & Good Governance (IC-LAW 2023)
PB  - Atlantis Press
SP  - 159
EP  - 165
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-218-7_25
DO  - 10.2991/978-2-38476-218-7_25
ID  - Paripurna2024
ER  -

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