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The Bank for International Settlements (BIS) has introduced a new compliance score system for crypto-to-fiat off-ramps to combat illicit transactions. This proposal aims to flag and potentially freeze ‘tainted’ assets based on transaction history.
- BIS proposes a compliance score to assess cryptoasset risks before fiat conversion.
- The score aims to flag illicit transactions and prevent tainted funds from entering banks.
- The system encourages a 'duty of care' among crypto market participants.
📎 Related coverage from: cointelegraph.com
Other Tags: Bank for International Settlements, BIS