Moreover, finance ministers and central bank governors of the G20 member countries called on the Financial Action Task Force (FATF), an intergovernmental body formed to fight money laundering and terrorist financing, to clarify how its existing AML standards can apply to cryptocurrency within three months.
As previously reported by CoinDesk, the G20 initially asked for an AML standard on cryptocurrency from the FATF in March 2018, as part of its wider push for global regulatory recommendations on the issue.
In June 2018, it was reported that the FATF is planning to develop binding rules of AML for the world’s cryptocurrency exchanges, following a February 2018 report that the agency would step up its scrutiny effort over crypto money laundering.
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