The Lightning Network promises to solve a fundamental problem of the Bitcoin blockchain. Not only the increase of transactions per second, but also the decrease in power consumption for updating the blockchain is supposed to be material. The financial privacy of the users is also supposed to be enhanced. But what does this mean for a commercial use of the Lightning Network?
The fifth AML Directive was supposed to ensure that certain central service providers of the crypto sector comply with AML obligations. Since Germany exceeded the requirements of the amending directive with the transposition into national law, the question remains which crypto businesses are subject to the German Money Laundering Act as of 2020.