Group of development of financial measures against money laundering (FATF) at the end of June will discuss the binding rules for the regulation of cryptocurrency exchanges. Reuters anonymously said the official of the government of Japan.
This step is an international body for combating financial crimes, apparently, initiated the March meeting of the economic leaders of G-20 countries in Argentina.
Currently, there are guidelines for exchanges involving the control of money — laundering, including requiring exchanges to register, to report suspicious activity and identify customers. These principles are not binding and in the different national jurisdictions are implemented differently.
The FATF will consider the effectiveness of these rules, developed in 2015, as well as their applicability to new cryptocurrency industry. In addition, the group will determine how to work with countries that banned trade cryptocurrencies.
Group of development of financial measures of struggle against money-laundering was created by the leading economic countries (G-7), it currently brings together 37 participants — States and international organizations.
Japan in 2017 introduced licensing of cryptocurrency exchanges on the basis of the existing guidelines of the FATF. In 2020, the country will chair the G-20. According to Reuters, for this reason, the Japanese government will insist on the adoption of a new mandatory regulations no later than 2019. Japan believes that will get in this question support of the US and European countries, the official added.
We will remind, earlier it was reported that the first country to submit its FATF guidelines for cryptocurrency exchanges, South Korea has become.