Cryptocurrency crime and anti-money laundering
We are very conscious that 2022 has been turbulent in the world of cryptocurrency. That said, the wider economy has been fluctuating in its own way too. We don’t take these trends lightly and continue to carefully watch for patterns in activity.
In Q2 2022, volatility and market pressure has become prominent in the virtual asset ecosystem. The term, “Crypto Winter” is being widely used to describe the substantial declines in asset prices and market capitalizations for virtual assets. There are varying reasons the Crypto Winter is occurring – natural market correction, inappropriate and unnecessarily created leverage in the market, tulip-mania ending, and the weeding out of all the weak players much like we saw a little over 20 years ago with the tech bubble. Regardless of the driving factor(s) or individual opinions, it’s clear that virtual asset prices have taken a substantial, negative hit.