On October 29, the Association of Ukrainian Banks hosted an online seminar on “How blockchain and cryptocurrency are transforming the banking business”.
For 4 hours the participants discussed current trends in cryptocurrency and predicted the development of blockchain technologies in Ukraine. Discussion included the legal regulation of cryptocurrencies and use of stablecoins by banks.
Vyacheslav Demchuk, AMLBot CEO, participated in the seminar, and presented a report focusing on debunking the myth about the complete anonymity of all cryptocurrencies and the easiness of money laundering through using crypto.
“The financial transactions have never been as transparent as they are in the blockchain. Every single transaction on blockchain network can be tracked. You can find out what goals and intentions were pursued by the one who carried out a specific operation… A lot of large companies around the world resort to blockchain analytics, and those who try to evade the implementation of AML regulations end up in trouble and financial loss..”
Among the 75 participants registered for this event, 84 % represented Ukrainian banks. The online seminar was supported by the National Bank of Ukraine, the Ministry of Digital Transformation, the Verkhovna Rada of Ukraine and the Investment Business Association of Ukraine. As AUB President Andriy Dubas noted that similar events will be held on regular basis, we hope for the further cooperation in this field, as well as development of the financial, banking and cryptocurrency sphere in Ukraine.