Definition ∞ Anti-Money Laundering Rules are regulations and procedures designed to prevent financial systems from being used to conceal illegally obtained funds. These rules compel financial institutions, including many cryptocurrency platforms, to verify customer identities and report suspicious transactions. Compliance aims to deter financial crime and promote transparency in economic activities.
Context ∞ Anti-Money Laundering Rules are a central area of discussion and evolution within the cryptocurrency domain. Governments globally are adapting existing frameworks or establishing new ones to address the pseudonymous aspects of digital asset transactions. Adherence to these rules is crucial for crypto entities seeking legitimacy and broader acceptance in conventional financial markets.
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