The Role of Blockchain Technology in Reducing Money Laundering Crime

Abstract

 Blockchain technology is a safe and documented way to keep records of transactions of the participants with this technology. Some countries have adopted this technology to reduce the crime of money laundering, while others are still dealing with it with great care, as blockchain technology can pave the way for enforcement authorities. The law in the country is entrusted with combating money laundering. Still, countries must create a legislative and technical environment that qualifies them to play this role to reduce the crime of money laundering.