The Financial Action Task Force (FATF), the international group that combats money laundering and terrorism financing, will start developing binding rules for crypto exchanges in June, a Japanese official familiar with the matter told Reuters June 12.
The new rules would be an upgrade to the non-binding resolutions which were adopted by the FATF in June 2015. The FAFT will consider whether existing guidelines on anti-money laundering (AML) measures and reporting suspicious trading activity are still appropriate, and if they can be applied to new exchanges. The intergovernmental organization will also reportedly investigate how to work with countries who have moved to ban cryptocurrencies.
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