The intergovernmental organization FATF (financial crimes task force), 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 exchanges 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 cryptocurrency companies.
Tthe government of Japan, which recognized bitcoin as legal tender in April 2017, intends to establish mandatory supranational regulations for the regulation of crypto exchanges no later than 2019.