FATF will launch new regulations for cryptocurrencies

The company dedicated to the surveillance of money laundering will apply a new international regulation for next year

The Financial Action Task Force against Money Laundering (FATF) announced that they are working on new regulations for cryptocurrencies, which will be available next year.

The anti-money laundering company explained that it is necessary that licenses be applied so that the exchange in the critpographic scheme, and also for the providers of digital wallet.

This announcement came after a meeting of the FATF with 204 members from global jurisdictions, which was aimed at discussing the cryptographic space.

The president of the organization, Marshall Billingslea, assured that by June 2019 the work team will have ready the guidelines and expectations of the proposal. “By June, we will issue additional instructions on standards and how we expect them to be met”.

On the other hand, the group indicated that “there is an urgent need for all countries to take coordinated measures to avoid the use of virtual assets for crime and terrorism”.

K. Tovar

Source: Coindesk

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