The cryptomorphic sector exhales more confidence against the risks of the area than outsiders report watching.
In collaboration with YouGov, the Royal United Services Institute (RUSI) and the Association of Certified Money Laundering Specialists (ACAMS) conducted a survey of authorities‘ perceptions of the cryptomotic industry.
„The RUSI-ACAMS Cryptomime Risk and Compliance Survey provides unprecedented insight into how governments, the cryptomime industry, traditional financial institutions and others view the use of cryptomime, including its inherent risks and the robustness of compliance controls within the cryptomime industry,“ the survey said.
The venture asked authorities around the world questions, receiving 566 different insights. The survey revealed a number of findings, including disagreement over the security of using cryptographic assets. The main entities surveyed see the asset class as risky. Crypt coin industry participants surveyed also see the asset class as risky, but felt they had the knowledge, skills and tools to reduce possible threats to a benign level based on their responses to the survey. This included industry participants who knew the procedures for combating money laundering and terrorist financing well.
The research mentioned a concern on both sides about the topic of the nefarious use of cryptomorphs, anticipating future directions and regulations. „Although the use of cryptomime by criminals is responsible for only 1 percent of all transactions, it remains an attractive place for those who avoid the traditional financial system,“ the research said.
The results also reported the following:
„Respondents also indicated that despite current skepticism about the role of cryptomoks in promoting financial inclusion, there may be more room for them in the future. Respondents anticipate a greater role for cryptomorphs in daily payments in the future, as well as a decrease in the use of cryptomorphs for illicit activities, especially compared to the way this is seen today. „
Given the set of hacks and mishaps in recent years, participants in the crypto industry should strive to be aware of the risks involved, making prevention measures a key component of space.