The Financial Action Task Force issues a reviewed guidance on money laundering and terrorism sponsoring via virtual currencies and crypto service suppliers.
New recommendations of regulator on crypto usage
A report entitled “The guidance for risk-based approach to virtual assets and virtual assets service suppliers” comprises FATF recommendations issued for two purposes:
1. Contribute to the formation of regulating and supervisory response to VA and VASP;
2. Assist private organizations willing to participate in VA activities and deepen commitments within FATF.
These recommendations don’t add any optimism, and, surely, will make it more difficult to exchange (buy/sell) cryptocurrencies like Bitcoin.
FATF guidance for VA activities is not mandatory for all countries-members but any of the countries may get on black list in case they don’t follow it.
