FATF will develop common rules for bitcoin-exchanges around the world

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The intergovernmental organization FATF, whose main activity is the fight against money laundering, plans to create a set of mandatory rules for crypto-exchanges. This is reported by Reuters referring to the statement of an unnamed Japanese official.

According to the agency, on June 24 members of the FATF will discuss the effectiveness of the rules, their applicability to new exchanges and the principles of implementing requirements in countries where cryptocurrencies are banned.

At present, crypto-instruments are following optional recommendations, which imply the registration and disclosure of information about suspicious activity. At the same time, each state independently decides to what extent to regulate crypto-currency companies.

Note that the government of Japan, which in April 2017 recognized bitcoin as legal tender, intends to establish mandatory supranational regulations for the regulation of crypto-instruments no later than 2019.

In late February, representatives of the FATF reported plans to launch programs to investigate the risks of using cryptocurrency as a tool for money laundering.