Crypto Exchanges: The New Wild West of Money Laundering? 🤔💸

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So, it turns out that even though trading volumes have taken a nosedive, Luxembourg is still waving its big red flag over crypto exchanges. Apparently, these digital playgrounds are still a hotbed for money laundering. Who knew? 🙄

According to Luxembourg’s latest National Risk Assessment (NRA), the risks are still sky-high, despite the fact that fewer transactions are happening. It’s like saying, “Sure, the party’s dying down, but the bouncers are still on high alert!” 🎉🚫

The 2025 report boldly declares that the inherent risk of crypto businesses is “high.” Shocking, right? The culprits? A delightful mix of client volume, transaction channels, and the fact that these businesses are as international as a backpacker’s Instagram feed. 🌍📸

And let’s not forget about investment fraud! The report mentions that it’s become more popular than avocado toast on a Sunday brunch menu. The surge in fraud is linked to the rising value of certain crypto assets and, of course, the media’s obsession with crypto investments. Because who doesn’t love a good scandal? 🍳💰

“The involvement of non-compliant crypto service providers with insufficient levels of KYC in offshore jurisdictions remains one of the main challenges in many cryptocurrency investigations as they often give rise to lengthy MLA procedures.”

— Luxembourg’s NRA report

In 2021, Luxembourg-registered crypto exchanges processed a whopping 30.2 million transactions worth €106.8 billion. But fast forward to 2023, and that number plummeted to 19.7 million transactions worth a mere €22.6 billion. Talk about a dramatic plot twist! 📉😱

Most users are still retail investors, with the report noting that “almost all clients (99%) were natural persons.” So, if you thought you were special, think again! And the number of politically exposed persons? Let’s just say it’s “very limited.” Because who needs politicians in a crypto party, right? 🎩🚀

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2025-05-27 15:24