Cryptocurrency Anti-Money Laundering Regulations by International Financial Task Force Imminent-1.2

The Financial Action Task Force announced plans to set forth rules regulating cryptocurrency in line with its global AML/CFT standards. This move is geared towards eradicating the use of digital currencies for money laundering and financing terrorism.

As reported by Reuters, the global watchdog made this announcement at its 2018 plenary session. The set of rules will apply to cryptocurrency exchange operators, ICOs and providers of encrypted wallets operational in member jurisdictions.

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