FATF Chairman: Less than 30% of global jurisdictions regulate cryptocurrencies
2024-03-28 09:37:01
T., Chairman of the Financial Action Task Force (FATF) Raja Kumar stated that as of June 2023, less than 30% of jurisdictions worldwide have started regulating the cryptocurrency industry. This low level of attention is worth calling for action. The report on the implementation of recommendation 15 by FATF members and jurisdictions with significant VASP activities, released on Thursday, provides recommendations for jurisdictions to take action to better address the money laundering and terrorist financing risks posed by cryptocurrencies. They should issue licenses or register virtual asset service providers (VASPs) and review their business practices, products, and technologies.
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