German Ministry of Finance urges supervision of anonymous cryptocurrencies

The German Ministry of Finance issued the National Risk Assessment for First Money Laundering and Terrorist Financing in 2018-2019 on October 19, which provides an identification of existing and future risks in the areas of anti-money laundering (AML) and terrorist financing (TF). Analysis. The report also examines cryptocurrencies circulating in dark networks for criminal purposes. The report points out the difference between pseudo-anonymous tokens and anonymous tokens, and points out that completely anonymous tokens (such as Monero and Zcash) keep transactions untrackable and therefore easily involved in illegal activities. The Ministry urged the supervision of anonymous cryptocurrencies in the future. The report points out that although the market value of such tokens is still relatively low, they are becoming more popular and accepted in the dark network and may eventually become a real substitute for Bitcoin.