Financial Action Task Force Issues Bitcoin Guidelines, Warns about Money Laundering
The independent intergovernmental organization FATF or The Financial Action Task Force (on Money Laundering), headquartered in Paris, has published a report as a guide for using digital currencies titled "Guidance for a Risk-Based Approach to Virtual Currencies." It includes benefits of digital currencies as well as potential risks of money laundering....
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New guidelines bring the nation's digital asset industry in line with Financial Action Task Force standards.
Financial Action Task Force on Money Laundering (FATF), an international intergovernmental organization created to combat money laundering has recently issued guidance in the form of a report titled 'Guidance for a Risk-Based Approach to Virtual Currencies' for closer monitoring of cryptocurrency exchanges. The report discusses about various benefits associated with digital currencies and also the potential risks of money laundering and terror financing it comes along with. The report was published as part of the recently concluded plenary meeting held at Brisbane. The organization with....
Russian financial authorities appear to be close to clarifying their stance on bitcoin with the announcement of a forthcoming paper to by published by the Financial Action Task Force (FATF), an intergovernmental body set up to combat money laundering and terrorist financing. Rossiyskaya Gazeta, a Russian-language news source, is reporting that the paper will mark the conclusion of research conducted by anti-money laundering (AML) and terrorist financing officials at the FATF and other agencies within Russia and around the world, including the US and UK. The FATF paper is being spearheaded....
The Financial Action Task Force and its anti-money laundering policies are antithetical to Bitcoin and an attack on human rights everywhere.
The Financial Action Task Force [on Money Laundering], also known as FATF, has released a new report focusing on virtual currencies. Specifically, the report covers "key definitions" and "potential AML/CFT risks" of these emerging payment methods. The FATF conducted research into the characteristics of virtual currencies to make a preliminary assessment of the ML/TF risk associated with this payment method. An important step in assessing the risks and developing an appropriate response, is to have a clear understanding of the various types of virtual currencies and how they are controlled....