Cryptocurrencies have demonstrated that they are not a futuristic statement anymore. With over 17 million Bitcoins in circulation today, cryptos are ambitious and are being accepted internationally as payment methods for airline tickets, groceries and even to transfer funds via WhatsApp. With China that is ready to ship its CBDC (Central Bank Digital Currency) and with JP Morgan introducing its own digital token for real-world users, European Financial Institutions must hurry up to invest in improving their AML/CFT policies & IT development if they wish to keep up with the pace of the market.

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