We are looking for Main Discussants for Block#10! In the next BGIN event, we are (partially) opening up Main Discussant positions to anybody willing to share and discuss ‘illicit activities’ based on research papers, white papers, and reports that have been published or new ideas/suggestions from you! Please feel free to share your ideas and suggestions below. We are looking forward to your contribution!!
Hello and welcome to all interested participants.
Illicit activities is a broad topic. To begin with, how do we define “illicit”?
Which regulatory regime should be applied?
Can law be applied based on extraterritorial principle?
Are there enough international laws in this space?
Can illicit activities be classified in a universal manner so that all stakeholders agree with this?
Feel free to suggest other topics of interest.
Illicit activities is a broad topic. To begin with, how do we define “illicit”?
← I agree!
- The definition of “Illicit” is different across jurisdictions. Do ‘illicit’ activities include market manipulation as well as AML/CFT, fraud, etc? Maybe we can make a comprehensive list of ‘illicit activities’, starting from Hayato’s presentation.
The nature of software development, which can be done by anyone, means that more and more people are becoming involved in criminal activity without realizing it. This comprehensive list could be important for educational purposes.
- If we can get into solutions to illicit acitivities (which will be the main topic of the Challenges and Innovation of On-Chain Analysis session), we can talk about the following.
2-1. It may be a good starting point to consider what “crimes” cannot be cracked down by the different definitions of “illicit” in each jurisdiction, when considering traditional finance. What are the “crimes” that, due to the nature of crypto assets, have become even more difficult to police than traditional finance?
2-2. Criminal activities that are not currently covered by blockchain analytics firms or investigative authorities (e.g., online casinos and privacy-enhancing technologies)
2-3. As Leon mentioned above, such a difference in definition of “illicit” might deter authorities from cooperating with each other for investigations. We can discuss the regulatory regime / international laws, which we can continue discussing in the on-chain analysis session!