Breaking Bitcoin: Financial Crime in Crypto - Nathan Cropper - Bitstocks Podcast Ep. 51, Pt. 1

In today’s #ConsciousConversations on the Bitstocks Podcast, Michael Hudson (Bitstocks CEO-Founder) chats with Nathan Cropper, Financial Crime Team Leader at Paragon Banking Group. Nathan is an expert in the analysis and investigations of cryptocurrency-related crimes, with over eight years of eye-opening experience at the Financial Intelligence Unit of Barclays Bank.


Part one of this two-part podcast focuses on Nathan’s background in the field of financial intelligence, from the early days of monitoring and tracking bitcoin transactions as far back as 2013, to transparency and privacy on-chain and how we can build a better financial ecosystem with the help of Bitcoin.


If you ever wondered what goes on behind the scenes of monitoring financial activities that use cryptocurrencies - then this podcast is for you! And make sure to tune in for part two next week...


Quick Reference:


1:10 - Introducing Nathan and his background in finance

5:42 - Early days of monitoring bitcoin transactions

08:49 - Using Chainalysis to track illicit transactions

10:50 - Bitcoin as a public ledger

14:16 - Challenges of tracking bitcoin ownership and financial activities

16:20 - Discussing the financial system

19:25 - How Michael started his journey of understanding the financial system

22:15 - Money as a measurement of time

24:40 - Discussing the lightning network

28:38 - Privacy versus anonymity

34:20 - The link between the physical and digital identity

35:05 - Combating fraud on blockchain

42:10 - Future challenges of the space

45:12 - GravityID and transparency on-chain

49:45 - Creating regulatory-friendly solutions on the blockchain

54:23 - BTC as the worst nightmare of regulators

57:50 - Enforcing property rights with Bitcoin