Experts to launch international regulations against money laundering with cryptocurrencies
Currently the anti-money laundering standards and regulation for cryptocurrency have very uneven processes. Therefore, they become more vulnerable to national and international financial systems
At the beginning of this month, a group of Belgian experts requested a unified legislation on digital currencies. They also asked for a greater investigation on the way they are distributed to the different investors. They argue that a segmented approach to cryptoregulation leaves possibilities for arbitration.
These assets become a great opportunity for crimes such as money laundering. For the month of August it was expected to elaborate laws for exchanges which contemplates updates of the regulations that were approved in 2015.
Therefor, a global set of new anti-money laundering rules for cryptocurrencies is being developed for next October. This was announced by the Financial Action Task Force (FATF) in a report in the Financial Times.
The current president of the agency, Marshall Billingslea, says he expects the coordination of standards to close gaps globally. A plenary session of the International Financial Action Task Force will be held in October, where anti-money laundering laws will be announced.
In the same way, the different models that will have to adapt to the world of cryptocurrencies and their technology will be discussed in the assembly. Likewise, the evaluation methods that some countries have will be reviewed.
L.Sáenz
Source: TG.PRESS
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