The Financial Action Task Force is the leader in global regulatory standards regarding anti money laundering and terrorist financing. The summary below highlights key information coming from FATF regarding virtual currencies.
Regulators of different jurisdictions have begun to address the aforementioned challenges with a variety of approaches. The most important regulatory aspect for mass adoption of virtual currencies (VC’s) is that the regulation should not inhibit the further development of innovation. Countries oriented on banning the use of virtual currencies will likely lose a great part of the market of one of the most promising technologies of current century.
To read the rest of the article regarding the FATF-regulators approach please read the rest of the article following the link: https://blog.coinfirm.io/post/an-international-regulators-approach-towards-cryptocurrencies-fatf
