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Money Laundering Considerations in Blockchain based International Commerce

Chuah, J. C. T. ORCID: 0000-0003-0634-1650 (2021). Money Laundering Considerations in Blockchain based International Commerce (City Law School Research Paper 2021/08). London, UK: City Law School, City, University of London.


There is much to be welcomed concerning the role blockchain technology can play to modernise and enhance international trade and create a more level playing field and reduce costs. However, it goes without say that the technology also brings with it the prospect of abuse leading to trade based money laundering. This chapter explores how the anti money laundering (AML) legislation should respond to the use of blockchain technology in shipping and trade. Drawing on tried and tested forms of blockchain technology based trade transactions, the work examines the fault lines in the current regulatory system and questions how best these gaps should be remedied. It also stresses that even states that have banned the issue and trade of cryptoassets, such as the People’s Republic of China (PRC), would not be immune to the new challenges.

Publication Type: Monograph (Working Paper)
Additional Information: Forthcoming in Maritime and Commercial Law in Europe and China (Routledge, 2022); eds. Zhao, L. and Jia, S. Copyright 2021, the authors.
Subjects: H Social Sciences > HJ Public Finance
H Social Sciences > HN Social history and conditions. Social problems. Social reform
K Law > K Law (General)
Departments: The City Law School > Academic Programmes
The City Law School > CLS Working Paper Series
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