Report: Financial Action Task Force to Prepare Binding Rules for Crypto Exchanges

The Financial Action Task power (FATF), the global group that combats money laundering and terrorism financing, will start building binding policies for crypto trades in June, a Japanese familiar with the matter informed Reuters June 1 2.

The new rules would be an upgrade for the non-binding resolutions that were adopted by the FATF in June 2015. Even the FAFT will contemplate if existing principles on anti-money laundering (AML) steps and coverage questionable trading actions are still proper, and also should they are sometimes applied to fresh exchanges. Even the intergovernmental organization will also reportedly explore howto work well with countries who have moved to ban cryptocurrencies.

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