ASML, a Dutch company, holds a monopoly on creating the world's most advanced microchips through their EUV lithography systems.
The control of ASML by the Netherlands provides a unique chokepoint power in global microchip production, impacting international trade and security.
Despite its power, ASML faces limitations in leveraging its monopoly, as it is enmeshed in Western-dominated supply chains and complexities that restrict its options for challenging export controls.
In the world of AI and finance, the question of responsibility for AI committing financial crimes is a complex legal and ethical dilemma.
AI technology like deep learning and reinforcement learning is being used in hedge funds to maximize returns and manage risks in financial markets, but this raises concerns about potential market manipulation and ethical implications.
Regulators are starting to address the risks posed by AI in financial markets, but challenges such as establishing intent in AI programs and ensuring accountability without hindering innovation remain.
Cryptocurrency, like the Akha ethnic group, is navigating the tension between staying independent and seeking recognition and validation from the state.
Both the market's desire to be seen and the state's willingness to see influence the integration of cryptocurrency into existing legal structures.
Markets, like cryptocurrency, can employ strategies to be more or less legible to the state, with different stages of legibility impacting regulatory standards and market development.
Investigating money laundering involves challenges such as identifying individuals, tracing illicit proceeds, and facing budget limitations in law enforcement.
Beneficial ownership data is crucial in uncovering complex money laundering schemes involving shell companies that obscure the true owners and facilitate criminal activities.
The new Beneficial Ownership Information (BOI) Database in the U.S. aims to enhance law enforcement capabilities by providing direct access to company ownership information, simplifying investigations and possibly reducing compliance costs for financial institutions.
Export controls are increasingly important due to the risk of dual-use technology being misused for military purposes.
The enforcement of export controls can be enhanced by following the money trail through financial institutions.
There are challenges in relying on financial institutions to detect export control violations due to issues like lack of expertise and practical challenges.
Nested accounts play a crucial role in facilitating financial crime by providing anonymity and allowing funds to move across borders through complex networks.
Financial institutions and regulators face challenges in monitoring nested accounts and ensuring compliance with anti-money laundering regulations, risking involvement in criminal activities.
Intermediaries like nested accounts in the crypto world increase regulatory control but also create complexities that could make it harder to detect and prevent financial crimes.
ACER, an EU agency, functions as supranational detectives to monitor energy markets in all member states and detect international manipulation.
Energy market liberalization created opportunities for financial crimes like manipulation through financial contracts rather than actual energy trading.
The EU is establishing AMLA to combat cross-border money laundering, introducing a supranational monitoring system to address weaknesses in the current national-level approach.