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CRYPTOCURRENCY: The Financial Action Task Force (FATF) set to introduce new guidelines for the cryptocurrency sector.


Added on 14/06/2019

As published on fxstreet.com, Thursday 13th June, 2019.

 

The FATF wants to assist its member countries in providing guidelines around the respective cryptocurrency industry.

It is suggested that the governing body will produce a note on June 21, according to a spokesperson from the FATF. 

The FATF is an agency that helps member countries in the development of best practices for its member their respective financial industries and ecosystems.

The latest suggests that this financial authority is set to provide some guidelines around the cryptocurrency sector. Bloomberg reported that the FATF will be publishing a note on June 21, the purpose is to shed some light in clarity, of how some of its member nations should be implementing regulatory oversight on their native cryptocurrency sectors.

A spokesperson from the FATF, Alexandra Wijmenga Daniel, detailed that the organization’s note would address various businesses which primary dealings are in crypto assets and issued tokens, including but not limited to cryptocurrency hedge funds, wallet providers, exchange platforms and much more, as reported by Bloomberg.