Facebook Says Criminals Will Not Want to Be on New Crypto Network

The video discusses the concept of shielded transactions and their implications for law enforcement, comparing them to Bitcoin and Ethereum. It highlights the current limitations of anti-money laundering efforts, emphasizing the role of cash in money laundering and the potential benefits of digital networks with regulated on and off ramps. The video also addresses the complex regulatory landscape faced by digital currencies, particularly in the US, and outlines the role of the Libre Association in managing these challenges. The importance of transparency, accountability, and reserve management in maintaining the stability of digital currencies is also discussed.

What is the main reason criminals might avoid using the network discussed in the video?

• Accounts are pseudonymous, not anonymous.

• The network is too slow for transactions.

• The network charges high transaction fees.

• The network is not widely accepted.

Why is the effectiveness of current anti-money laundering efforts limited?

• Law enforcement lacks resources.

• There are too many digital currencies.

• Digital networks are too secure.

• Most money laundering occurs in cash transactions.

What is required to convert fiat money into the digital currency discussed?

• A personal digital wallet.

• Going through regulated entities.

• A high credit score.

• Approval from a financial advisor.

What is the role of the Libre Association in the digital currency ecosystem?

• To govern the network and ensure stability.

• To manage consumer transactions directly.

• To set exchange rates for the currency.

• To provide loans to digital currency users.

Why is transparency and accountability important for the Libre Association?

• To increase the speed of transactions.

• To ensure the stability of the digital currency.

• To attract more investors.

• To reduce transaction fees.