Virtual assets present unique Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) risks that have been overlooked by global regulation in the past. This article considers virtual assets’ potential as a new way to exchange value and the need for effective AML/CTF regulation. It analyses the emerging issues that will elevate the risks and considers the current global regulatory response including the reliance on centralized intermediaries. This article recommends extending the regulatory framework to include regulation that is native to the peer-to-peer nature of virtual assets to address the risks. This article argues this new regulatory model will ultimately be more effective in achieving the goal of AML/CTF regulation than the current regulation has been in the traditional financial system. Despite the inherently global nature of virtual assets, where the domestic perspective is required this will be considered in the context of Australia, drawing upon other jurisdictions where applicable.

中文翻译：

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虚拟资产：催生新的反洗钱和反恐融资监管模式

虚拟资产具有独特的反洗钱和反恐融资 (AML/CTF) 风险，过去被全球监管机构所忽视。本文认为虚拟资产作为一种新的价值交换方式的潜力以及有效的 AML/CTF 监管的必要性。它分析了将增加风险的新出现的问题，并考虑了当前的全球监管反应，包括对集中中介的依赖。本文建议扩展监管框架，以包括虚拟资产点对点性质的原生监管，以应对风险。本文认为，这种新的监管模式最终将比现有监管在传统金融体系中更有效地实现 AML/CTF 监管的目标。