International Group on Financial Measures Intends to Create a Series of Mandatory Rules for the Crypto-Exchange Area
The International Financial Action Group (FATF), which deals with money laundering and terrorist financing, intends to create a number of mandatory rules for the cryptocurrency sphere. Such a statement was made by the official representative of Japan in Reuters.
It is reported that the new rules will be based on the FAFT resolution of 2015, which was not binding. The main attention will be paid to the relevance of the previously developed rules for combating money laundering and reporting on illegal financial activities. Also, FAFT intends to explore possible options for cooperation with those countries where the cryptocurrency is prohibited.
As it became known, the government of Japan intends to take an active part in the creation of new rules and their adoption by 2019. Also, Japan intends to closely cooperate with the United States and Europe in setting new standards.
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