In the era of rapid technological advancements and financial innovation, cryptocurrencies have emerged as a double-edged sword. Meanwhile, money laundering has become a pressing global issue recently, especially in light of cryptocurrency's rapid growth and its potential ties to money laundering activities. The relationship of money laundering and cryptocurrencies has become a focal point of concern for the international community with two distinct viewpoints. While some argue that cryptocurrency's inherent anonymity is advantageous for money laundering, others contend that it is unfavourable for money laundering due to blockchain technology's ability to trace transactions.
This research has recognized the need to investigate the relationship between cryptocurrency and money laundering, providing the United Nations with strategies to protect financial honesty, promote transparency, and deal with the new challenges brought by the digital era around the world.
