AML Standards for Crypto Outlook

By Ana Alexandre @ cointelegraph, “International Anti-Money Laundering Standards for Crypto Expected in October” reports on progress of international organisation Financial Action Task Force (FATF) towards an unified legislation on cryptocurrencies.

As usually cryptocurrencies are essentially global, its use covers multiple patchwork legislations. While some overlapping cases present too burden, gaps present ‘regulatory arbitrage’. Neither cases are desirable in a heathy economic system.

FATF plenary meeting in October expected to explore and bring affirmative stance on cryptocurrencies. (update: follow to FACT plenary outcome with recommendations)