AML BitCoin has been designed as the world’s first cryptocurrency with built-in know your customer (KYC) and anti-money laundering (AML) capabilities. The CEO of the organization behind it, the NAC Foundation LLC, Marcus Andrade recently explained some of its benefits at the EU Digital Summit in Tallinn, Estonia.

“Because of its AML/KYC (anti-money laundering/know your customer) features, AML BitCoin is the digital currency that is most able to engage in mainstream commerce, taking its place among traditional payment options,” Andrade said.

When asked what separates AML BitCoin from other cryptocurrencies, Andrade pointed to the platform associated with it. He noted that AML BitCoin is also an identification technology.

“AML BitCoin’s white label platform is unique,” Andrade noted. “It relies on complex verification methods, such as patent-pending biometric digital identification, that other digital currencies and financial technology platforms do not have and have not yet developed.”

Andrade then explained why governments in Panama; and the European nations of Estonia and Slovenia, are interested in AML BitCoin.

The AML BitCoin Platform is Ideal for Government use

“This makes the AML BitCoin platform ideal for use by governments wanting to make their services digital, but also wanting to protect user identity,” Andrade pointed out.

If that was not enough, Andrade thinks that AML BitCoin might be able to save cryptocurrency from itself by preventing criminal use. It might even prevent criminals from misusing cryptocurrency.

“A number of nations have recently moved against anonymous digital currency, such as Bitcoin, for fear that their anonymity promotes entry by criminal and terrorist elements into otherwise protected financial systems,” Andrade explained. “In the United States, Members of Congress are considering legislation barring the use by U.S. merchants of anonymous, non-AML compliant cryptocurrencies.”

Governments are afraid that cryptocurrency can be used for tax evasion and to get around anti-money laundering (AML) laws. Andrade thinks AML BitCoin can comply with such laws because it is the world’s only digital currency with a patent-pending biometric digital identity system tied to the blockchain, enabling strict adherence to all bank security provisions including AML (anti-money laundering) and KYC (know your customer) protections.

About the NAC Foundation

The NAC Foundation; headquartered in the U.S., is the creator of the AML BitCoin, the world’s only patent-pending digital currency with anti-money laundering, know-your-customer, anti-terrorism and theft-resistant properties. AML BitCoin is compliant with all major national security and financial protection laws and regulations; including the USA PATRIOT Act and the Bank Secrecy Act.

NAC’s mission is to strengthen the acceptance and use of digital currencies by advancing throughout the world security compliance, combined with blockchain technology.  For more information, please visit www.AmlBitCoin.com or AmlToken.com

 

https://i2.wp.com/geekcrunch.reviews/wp-content/uploads/2017/11/aml-bitcoin.jpg?fit=1024%2C683&ssl=1https://i2.wp.com/geekcrunch.reviews/wp-content/uploads/2017/11/aml-bitcoin.jpg?resize=150%2C150&ssl=1Daniel JenningsInnovationAbout the NAC Foundation,AML (anti-money laundering),AML Bitcoin,AML BitCoin has Anti-Money Laundering Capabilities,anti-money laundering,anti-money laundering cryptocurrency,Bank Secrecy Act.,KYC (know your customer) protections.,Marcus Andrade,The AML BitCoin Platform is Ideal for Government use,the NAC Foundation,the USA PATRIOT ActAML BitCoin has been designed as the world’s first cryptocurrency with built-in know your customer (KYC) and anti-money laundering (AML) capabilities. The CEO of the organization behind it, the NAC Foundation LLC, Marcus Andrade recently explained some of its benefits at the EU Digital Summit in Tallinn, Estonia. “Because of...From A Geek to a Geek