UNDERSTANDING MONEY LAUNDERING THROUGH CRYPTOCURRENCIES: A THEORETICAL FRAMEWORK AND INSTITUTIONAL RESPONSES
Abstract
Money laundering through cryptocurrencies is a global challenge due to the anonymity and decentralized nature of blockchain technology. This paper develops a theoretical framework based on intermediary theory, signaling, transparency, the wolf concept and economic theory, analysing institutional responses through qualitative methodology and the Tornado Cash case study. The findings indicate that the anonymity of cryptocurrencies obscures money laundering while institutional responses often lag behind due to technological complexity and regulatory gaps. The paper proposes a framework for better understanding and dealing with these challenges, emphasizing the need for greater transparency, stricter sanctions and stronger international cooperation.
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Copyright (c) 2026 Dimitrije Soleša, Aleksandar Petković, Radovan Vladisavljević
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