Report: Financial Action Task Force to Prepare Binding Rules for Crypto Exchanges

Report: Financial Action Task Force to Prepare Binding Rules for Crypto Exchanges

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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.

The official stated that Japanese authorities aspire to become a leader in the matter and to promote the adoption of new binding rules by 2019. The official added that Japan’s government hopes to cooperate with the US and European countries on the issue.

The FATF is based in Paris and is composed of 37 different member states. The intergovernmental organization was founded in 1989 at the behest of the G7.  

The recent move by the FATF follows the recent release of a draft on new regulations for crypto exchanges and payment services by the Canadian

Bulls on Crypto Street is a trading education website dedicated to cryptocurrencies. We teach strategies for swing and day trading cryptocurrencies such as Bitcoin, Ethereum, Litecoin, UnikoinGold, and other Altcoins. We're at the forefront of this industry and are continuously providing up to date information on each coin, regulations, news, token sales, and much more.

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10 thoughts on “How To Setup Your Cryptocurrency Trading Platform

  1. Did I miss it, but I dont see anything about your price prediction except it might test 5000 at some point. Whats you PT for end of 2018?

  2. Wouldn’t Paradex then allow Coinbase to operate as a “decentralized” exchange? For example, users will be in control of their Private Keys, instead of relying on the security of Coinbase? Correct me if I’m wrong. Thank you!

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