Group of development of financial measures against money laundering (FATF) announced that by summer of next year will establish the rules that should govern the cryptocurrency.
Based in Paris, the international body said that jurisdiction in the world will have to license and regulate the crypto currency exchange, providers of digital wallets in accordance with the new guiding rules. For them to be subject to and the company producing the new cryptocurrency via ICO.
“By June we will publish further instructions about the standards and about what applications we expect”, — said the President of the FATF, Marshall Billingsley (Marshall Billingslea).
As specifies Reuters, the FATF initiative is a landmark moment for the regulation of digital currencies until now, the global coordination of this process was low, which led to the emergence of different approaches at the national level. We can remember quite friendly regulation of digital assets in Japan or Malta and a strict policy of China or India.
The head of the FATF stressed that jurisdiction who are not able to follow the established organization rules, will be added to “black list” of uncooperative countries.
That FATF will discuss the binding rules for the regulation of cryptocurrency exchanges in June was announced who wished to remain official Japan. The process was initiated by the March meeting of the economic leaders of G-20 countries in Argentina. In 2020 Japan will begin to preside in the “Big twenty” and insists on the adoption by this time new rules governing digital assets, said the official.
Earlier, the special representative of the RF President on the issues of digital and technological development , Dmitry Peskov, said that Russia intends to synchronize the regulation of kriptonyte countries with global regulators, including the FATF. While the relevant bills have already passed in the state Duma the first reading in spring session.
Source
