Group of development of financial measures against money laundering (FATF) next summer I will begin to publish norms for the international regulation of crypto-currencies, according to Reuters.
According to representatives of intergovernmental organizations, these standards must be adhered to by financial regulators worldwide and cover the exchange of digital currencies, wallets and primary supply of coins (ICO).
On the eve of the FATF held a plenary meeting with representatives of the 204 jurisdictions, discussed in particular the issues related to the regulation of cryptocurrencies. During the event, the organization’s President Marshall Billingsley stated that the guidelines and explanations of them will be published in June next year.
Today, 19 October the FATF issued a document which referred to “the urgent need for all countries and coordinated action to prevent the use of virtual assets for criminal and terrorist purposes.”
“The phased approach will prepare the updated FATF standards based on risk assessment. They are intended to regulate providers associated with the virtual asset services, and will include supervision and monitoring. Will also feature methodological principles for operational and law enforcement agencies to identify and investigate illegal activities using virtual assets”, — the document says.
ForkLog previously reported about the intention of the FATF to develop uniform rules for cryptocurrency exchanges.