For years the cryptocurrency community has been arguing that blockchains enable alternative ways to approach anti-money laundering (AML) and compliance. Companies like Chainalysis and TRM Labs have been providing wallet screening solutions for some time. Now these approaches are being endorsed by the Bank for International Settlements (BIS) with its proposal of grading permissionless blockchain wallets for risks. A key motivation is to reduce the potential for illicit funds passing from the crypto ecosystem into the traditional financial system. The paper also makes a couple of controversial suggestions. The BIS acknowledges that “Existing international standards for AML compliance for cryptoassets attempt to apply the intermediary-based principles for AML compliance to the crypto world. However, there are clear limits to such an approach.” That said, it concludes that off-ramps are the pragmatic points for deploying an AML scoring system. Wallet addresses would be scored based on the sources of incoming funds. If the funds primarily come from wallets on an allow list, then it would achieve a top score of 100. If all funds can be traced to an address on a deny list, then the score would be closer to zero. Many transactions are likely to fall somewhere in between.