Bitcoin Regulation? Imperfect Knowledge of Identities and the Money Laundering Risk: A West African Perspective’

Azinge, Nkechikwu Valerie and Egbiri, Egbiri ifegwu (2018) Bitcoin Regulation? Imperfect Knowledge of Identities and the Money Laundering Risk: A West African Perspective’. Journal of Anti-Corruption Law, 2 (2): 2. pp. 163-182. ISSN 2521-5345

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Abstract

Arguments for regulating Bitcoin are built mainly on the technologically disruptive nature of the currency and its susceptibility to facilitating financial crimes on a scale larger than financial institutions. This paper questions this notion and proposes instead that the disruptive nature of Bitcoin is not technological but legal. The legal disruption requires a legislative response aimed at ensuring suitable regulation that can circumvent the identity crises in Bitcoin transactions.