Banks trading on permissionless blockchains face multiple risks, including money laundering, terrorist financing, operational and security, governance, legal, settlement finality, and compliance, according to a newly released report by the Basel Committee on Banking Supervision (BCBS). BCBS, part of the Bank for International Settlements (BIS), the world's leading standard-setter for banking prudential regulation, noted that some of the risks stem from blockchain's reliance on unknown third part...