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The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to Implement FATF Crypto Standards […]Powered by WPeMatico
Agustin Carstens, the general manager at the Bank of International Settlements (BIS), has claimed that cryptocurrencies are “used to evade laws and should therefore face more regulation.” Carstens, who has attacked bitcoin in the past, suggests that many crypto assets are “used to do some arbitrage, or to circumvent some regulations.” Carstens Repeats the Same […]Powered by WPeMatico
On March 19, the Financial Action Task Force (FATF) published draft guidance on the risk-based approach to virtual assets. The newly updated guidance now applies anti-money laundering and know-your-customer rules to stablecoins, decentralized finance (defi), and non-fungible token (NFT) assets. FATF Defines Decentralized Exchanges and Defi as a Virtual Asset Service Providers For a while […]Powered by WPeMatico
South Korea’s National Assembly finally passed a bill that provides a framework for the regulation of cryptocurrencies and exchanges. Crypto service providers will be required to use the real-name verification system and comply with reporting requirements in line with the global cryptocurrency standards set by the Financial Action Task Force (FATF). Also read: Bitcoin Legal […]
The post South Korea Passes Bill to Regulate Cryptocurrency in Line With FATF Standards appeared first on Bitcoin News.
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