With terminology such as mixers, cold storage, tumblers and Onions (Onion Routers) (TOR), one may be excused for overlooking the significance of money laundering the digital age. Read more
The RBA has recently set out its views that “Most of the regulation set for financial institutions is aimed at the stability of financial institutions….If some of these companies get big enough there will be systemic issues." This is moderately inconsistent with APRA’s latest move, expanding its policy to restricted ADI licences to foster innovation and competition in the banking industry. Australia needs clear guidance and regulatory support to avoid pushing away financial services innovation. Read more
