Study on the Amendment of the Legal System of Anti-Money Laundering Regulation from the Perspective of Digital Currency

Abstract

With the rapid development of digital currencies, the global financial system faces new opportunities and challenges, especially in the field of anti-money laundering (AML) regulation. The purpose of this paper is to explore the amendment path of the current AML regulatory legal system from the perspective of digital currency. First, it analyzes the historical evolution, scientific and technological foundation and financial foundation of digital currencies, and reveals its impact and challenges on the AML regulatory system. Secondly, it explores the compliance principles and regulatory value of anti-money laundering regulation with respect to the causes, path choices and international factors of money laundering behavior of private digital currencies. By comparatively analyzing the legal practices of Switzerland, the United States and South Africa in the field of digital currency anti-money laundering, this paper distills the experiences and lessons of different countries. Based on these studies, this paper puts forward suggestions to improve the legal system of anti-money laundering regulation from the perspective of digital currency in China, including the revised paths of expanding the regulatory body, perfecting the compliance system, innovating the regulatory tools, and strengthening international cooperation. Ultimately, this paper argues that the development of digital currencies not only challenges the current AML regulatory system, but also provides a new opportunity for its innovation, and it is necessary to cope with this complex situation through the continuous improvement of the legal system.