To combat '...criminals and terrorist financiers' the FATFNews 'Travel Rule' includes obtaining additional information on virtual currency transactions but the details are a little more telling.
The Financial Action Task Force, or FATF, reported its delegates had come to an agreement on an action plan “to drive timely global implementation” of global standards on cryptocurrencies.the plenary for the financial watchdog — consisting of delegates from more than 200 jurisdictions — met in Paris and came to a consensus on a roadmap aimed at strengthening “implementation of FATF Standards on virtual assets and virtual asset service providers”.
“The lack of regulation of virtual assets in many countries creates opportunities that criminals and terrorist financiers exploit,” said the report.
The FATF plenary has concluded. Delegates of governments from around the world discussed a range of money laundering and terrorist financing issues.
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