The FATF will develop new rules for cryptocurrency exchanges.

The FATF will develop new rules for cryptocurrency exchanges.

June 12, Reuters reported that the international Group of development of financial measures against money laundering (FATF) in June will begin to develop new rules for cryptocurrency exchanges. Recall that the organization of the FATF was founded in 1989 and consists of representatives of 37 countries.

The changes will concern the accepted in 2015 the rules governing the circulation of digital assets. Employees of the FATF will analyse the effectiveness of existing measures to counter money laundering and illegal trading activities. It is also planned to develop a strategy of engagement with countries which introduced a ban on the virtual currency.

In the official report of the Japanese government expressed its intention to adopt the new rules by 2019. To solve problems in cryptocurrency industry, Japan is willing to cooperate with European governments and the United States.

On 10 June the government of Canada has announced its plans to adopt a new law governing the work of the cryptocurrency exchanges. Normative act is aimed at addressing the shortcomings of the existing regulations in the sphere of fight against illegal financial activities.

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