Cryptocurrency tightening policy: FATF to discuss changes in October

The Financial Anti-Money Laundering Measures Development Group (FATF) will hold a meeting with representatives of the Big Twenty (G20) in October, the main theme of which will be the issue of tightening the regulation of the crypto industry.

Last Tuesday, the regulator posted a document emphasizing the need for the G20 representatives to work together to develop legal standards that will become the basis for governments to use to regulate this industry. Particular attention will be paid to coordination of efforts to exchange information about existing exchanges, wallets, peer-to-peer and custody services, as well as any companies that trade or conduct transactions with electronic currency.

Such an approach, according to the FATF, will make the global regulation of the cryptocurrency market and stable coins more efficient.