Definition ∞ AML Laws are legal regulations designed to prevent illegal funds from appearing legitimate. These statutes compel financial institutions and digital asset service providers to report suspicious activities. The aim is to combat illicit financial operations such as terrorism financing and market manipulation. Compliance with these laws helps maintain financial system integrity.
Context ∞ The cryptocurrency sector currently faces extensive discussions regarding the application and enforcement of AML laws. Jurisdictions globally are adapting existing anti-money laundering frameworks to address the unique characteristics of digital assets. News often covers regulatory actions against non-compliant entities, highlighting the ongoing effort to bring digital asset markets within established financial oversight.
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