New Cryptocurrency AML Bitcoin Launched in Panama. The last couple of weeks have not been that good for the market of cryptocurrencies. With the series of attacks from China and J.P Morgan CEO, Jamie Dimon, the entire cryptocurrency market dropped and the value of all cryptocurrencies plummeted. However, this week, those digital currencies are on the rise again and they are once again very close to their all-time highs when it comes to their values.

Another big problem for this market has been the series of news from North Korea in which it was indicated that the hackers from that country will be increasing their efforts to hack into the cryptocurrency exchanges in North Korea in order to steal as much money as possible. This would not be the first time that North Korea has done this as they conducted similar hacking attacks several times in the past couple of years and they stole a lot of money.

Panama Looking in Opposite Direction

In the midst of all the problems that cryptocurrencies faced during the past week, Panama was a country in which government officials and the leading minds behind the idea of a new cryptocurrency met in order to launch a completely new cryptocurrency. According to those officials, the new cryptocurrency called AML Bitcoin has been launched in order to provide an alternative to the problems that the biggest and the most popular cryptocurrencies are currently facing.

The first public offering of the new cryptocurrency will be on October 1, 2017, in the Initial Coin Offerings. You may wonder what the AML in the name of this cryptocurrency means and we can tell you that the officials have confirmed that it means ‘Anti-Money Laundering’. Besides that, the officials have also stated that the new cryptocurrency respects all the requirements that the Patriot Act has introduced and that are related to the banking as well as other financial institutions.

Properly Regulated Crypto

Unlike some other cryptocurrencies, AML Bitcoin has been launched in cooperation with the government officials in order to develop a cryptocurrency that would be government backed and that would comply with all the regulations that the Panama government and the regulations of this market require. On the other hand, other cryptocurrencies have been under attack from many countries all over the world from China to the United States.

Unlike those cryptocurrencies, AML Bitcoin drew interest of many nations and the governments were not the only ones who backed the creation of this new cryptocurrency. Many banks, as well as other big financial institutions from all over the world, have been expressing their support to this cryptocurrencies as it fulfills all the requirements and rules that those financial institutions have imposed on this market.

The officials also said that standard cryptocurrencies are vulnerable to people who want to use them for illegal activities but AML Bitcoin is not and as such it can be used by all institutions, public and private. Besides, the developers also stated that this new cryptocurrency could be used safely in the financial markets all over the world which is not the case with standard cryptocurrencies as they have been very volatile ever since they appeared.

Written by Ivan Potocki

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