AML BitCoin (ABTC) aims to be the world's first cryptocurrency protocol that built in anti-money laundering (AML) and biometric identification into the platform. Anti-money laundering (AML) directs the laws framed to control criminals from hiding illegally received funds as legitimate income. The AML BitCoin aims to be compliant with worldwide regulations such as the Bank Secrecy Act, U.S. Office of Foreign Assets, U.S. Patriot Act, Control Compliant, KYC (Know Your Customer), and more.
The in-built process of this crypto-asset seeks to allow companies and individuals to transact with state, semi-state, regulated, and unregulated bodies. The AML BitCoin aims to focus on the transparency of the transactions recorded on a public ledger. The transaction validation aims to be decentralized. AML BitCoin holders can join this process through proof-of-work (PoW) or proof-of-stake (PoS) mining. AML BitCoin seeks to provide the following advantages:
According to the whitepaper, the AML BitCoin network seeks to solve the issue of anonymous cryptocurrency serving as the medium of exchange that promotes terrorism and criminal activity. AML BitCoin seeks to solve this problem and form a platform for integrating digital currencies and the economy.
ABTC is the native token of the AML BitCoin platform. However, Aten Coin was the first cryptocurrency designed by the NAC foundation to be AML compliant. Because of the limited token supply of Aten Coin, AML BitCoin came into existence.
The ABTC tokens are not included in monitoring suspicious activities or any of the other features of the AML BitCoin. Once NAC has met and started its features, the AML BitCoin can be replaced with the ABTC tokens. The token holders can exchange their ABTC tokens for AML BitCoins on a 1:1 ratio. Once the exchange process is done, all owners must have a certified digital identity.
