Fifteen governments plan to develop a monitoring system for cryptocurrency transactions in cooperation with the Financial Action Task Force on Money Laundering (FATF).
The aim of the project is cessation of illegal circulation of funds for the purpose of money laundering and terrorist financing by collecting and exchanging transaction data, as well as personal information of users of digital currencies.
Anti-Money Laundering and Cryptocurrencies in the EU
FATF will lead the creation process, and 15 countries, including G7 members, Australia, Singapore, plan to jointly complete the development of the system by the end of the year. After its launch, global monitoring will last for several years..
Earlier, the FATF issued a set of rules according to which 30 member countries must establish appropriate requirements for cryptocurrency service providers. Among other things, companies will be required to monitor and report suspicious transactions, as well as exchange user data with each other..
Recall that due to the requirements of the FATF, the State Duma also postponed the adoption of the law on the CFA.
text: Ivan Malichenko, photo: Shutterstock