AMLT PROJECT
AMLT stands from the abbreviation of Anti Money Laundering. It is a form of a regulatory compliance which has the speciality over Anti Money Laundering (AML) and Counter Terrorist Financing (CTF) for Blockchain and virtual currencies that has been a big blockade for adopting in bigger format. The tagline of the company says “A Token of Compliance” that comes to the sense by providing greater opportunities by carrying greater risks. Because nothing to gain without having risk.
AMLT consists by the experience of professionals from compliances such as AML1, virtual currency2, blockchain and tech ecosystems, and efficiency that serves the entire blockchain ecosystem that also extends the reimbursements of traditional economy which also enables the mass market to be a safer place to pay visit the Global Standard which has been made a platform for Coinfirms.
AMLT BACKGROUND
The environment of AMLT is versatile. Acceptances for virtual currency have been gone so far in recent years and also increasing day by day. As banks are not prepared enough to provide services related to doing business over cryptocurrency. But anyone can invest over this business by officially paying some governmental fees. Many of the leading bitcoin retailers are processing payments by accepting virtual currencies 11 from all over the world like Switzerland, Amsterdam etc.
The market for cryptocureny is not staying up small anymore. The costs for AML or CTF are little high which also continues due to the increase of the solution process. The processes are both ineffective and inefficient. Whereas financial institutions are spending only double digit percentages for the labour, virtual currency companies are spending over 12 and the cost in sncreasing for over 50%. This increase in spending not only creating limitations to the ability to become commercially adoptable throughout the global market, but also may result in closing to an existing business because of paying fines or potential legal ramifications.
Over 100 billion USD of virtual currencies in the market are facing problems regarding access to the mass commercial markets and traditional banking and struggles with the regulatory compliances. Money Laundering and Terrorist Financing is not just a legal obligation, it is also about moral obligation. As this illegal money flows directly to the drug dealers, human traffickers, terrorists or weapon traders that takes the entire money market into a risky position. This may lead to risky management which leads to breach of rules for involved companies.
This situation needs a solution. Virtual currency businesses and traditional businesses are accepted by virtual currencies that must have and exposure. Because the entity is moving towards the virtual currencies that operate by complying rules of AMT or CTF that will end of the day protect themselves and will allow for commercial growth. The market is widened up globally and also growing which is not ignored by bigger financial institutions, gamblers, criminals, regulators and financial investigation units as well.
How would the future of AMLT look like?
AMLT believes in personal freedom and innovation that is needed for the existences of general rules being on a wider society. Their mission is to expose all the illegal sources of money laundering by the help of AMLT Network and remove all the blockades and mass adoptions and making a platform that provides all the functions facilitating the protection and transparency. They believe that, the duty of exposing illegal money sources are not only barricaded within themselves but to the families, friends, and partners. So ATML invites to join with them to protect that is most important from illegal funds all over the world.
For more information:
Website : https://amlt.coinfirm.io/
Whitepaper : https://amlt.coinfirm.io/pdf/white-paper.pdf
Twitter : https://twitter.com/AMLT_Token
Facebook : https://www.facebook.com/AMLToken/
Linkedin : https://www.linkedin.com/company/coinfirm/
Author: titadamay
ETH Address: 0xCcFF3650214db80251599293CB0Df156ad80Ba0D
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