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The Financial Action Task Force(FATF), a 37-nation group set up by the G7 industrial powers, is planning to formulate its first set of governing rules and guidelines that govern cryptocurrency industry by June 2019, the global watchdog said on Friday.
Paris-based FATF look for crypto exchanges, among other things, to be licensed, verify customers’ identities, prevent money laundering and for suspicious trading to be reported. It has also boldly unveiled plans to set guidelines for the legalization of initial coin offerings (ICOs).
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The move would be an upgrade from guidelines currently in place, which were ... (read more)