However, despite that enormous enthusiasm and excitement, we should not be blind to the fact that there are still fundamental issues that need to be resolved before crypto truly becomes the dominant 'coin of the realm' around the world, along with the backbone of the next generation. industrial Revolution. Chief among these issues are Anti-Money Laundering (AML), Know Your Customer (KYC) and Combating the Financing of Terrorism (CFT), which ensure that crypto remains a responsible and stable payment option without over-regulation.

We are already seeing these kinds of issues among the countries most enthusiastic about adopting crypto, whether through CBDCs or other means. El Salvador has made headlines for making Bitcoin (BTC) legal tender and building a tax-free Bitcoin-funded city under a volcano, but the country has had AML/KYC/CFT issues, such as when identity thieves brought the Chivo Bitcoin Wallet at risk, the mechanism through which El Salvador gave its citizens a 'Bitcoin stimulus'.

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