Digital transformation and the deployment of crypto-assets have great potential to improve the efficiency of payments and transfers. However, the speed and scope of transactions, as well as the potential for anonymous activity and trading without financial intermediaries, also make crypto-assets vulnerable to abuse and increase the risk of money laundering. Financial services firms, regulators and policymakers have all had to come to terms with the rise of new product categories. This special...

Digital transformation and the deployment of crypto-assets have great potential to improve the efficiency of payments and transfers. However, the speed and scope of transactions, as well as the potential for anonymous activity and trading without financial intermediaries, also make crypto-assets vulnerable to abuse and increase the risk of money laundering. Financial services firms, regulators and policymakers have all had to come to terms with the rise of new product categories. This special...