Cryptocurrencies and the Legislative Provisions for the Prevention of Money Laundering in the Republic of Slovenia

Franc Pozderec – New University, European Faculty of Law, Delpinova Street 18/b, 6000 Nova Gorica, Republic of Slovenia

Ivanka Oberman – New University, European Faculty of Law, Delpinova Street 18/b, 6000 Nova Gorica, Republic of Slovenia

Abstract: Cryptocurrencies represent the future of the digital money system. It is an innovative online payment system that allows transactions to be recorded using decentralised accounting without the control of a central institution. There´s a high degree of user anonymity and users can further obscure the transaction trail by using various anonymisers. Cryptocurrencies are based on a complex infrastructure involving a large number of so-called miners and users coming from different countries, and transactions are validated and recorded globally, making it impossible for Anti-Money Laundering authorities to obtain relevant information on suspicious transactions.

The present article deals with cryptocurrencies and the process of »mining«, which is the process of validating transactions on a cryptocurrency network and adding them to a blockchain. Also, money laundering issues are highlighted and the Slovenian legislative provisions in this area are presented. Finally, guidelines to prevent money laundering are presented.

8th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2024 – Conference Proceedings, Hybrid (Zayed University, Dubai, UAE), October 24, 2024

ITEMA Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ITEMA conference partners: Faculty of Economics and Business, University of Maribor, Slovenia; Faculty of Organization and Informatics, University of Zagreb, Varaždin; Faculty of Geography, University of Belgrade, Serbia; Institute of Marketing, Poznan University of Economics and Business, Poland; Faculty of Agriculture, Banat’s University of Agricultural Sciences and Veterinary Medicine ”King Michael I of Romania”, Romania

ITEMA Conference 2024 Conference Proceedings: ISBN 978-86-80194-89-9, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.