A global regulatory watchdog: cryptocurrency exchanges in the UK present low risk for money laundering and terrorist financing

Cryptocurrency exchanges in the United Kingdom present low risk for money laundering and terrorist financing according to a report published by a global anti-money laundering organization Financial Action Task Force (FATF). FAFT said that even though they consider cryptocurrencies an emerging risk, there is currently not enough evidence to suggest that money laundering and terrorist financing are present on the UK exchanges. FATF suggested that UK “[Continues] to develop an understanding of emerging risks (such as virtual currencies) and intelligence gaps, and take appropriate action.” In June 2019, FATF is expected to issue guidance for global cryptocurrency regulation. (Source: CoinDesk)

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A global regulatory watchdog: cryptocurrency exchanges in the UK present low risk for money laundering and terrorist financing written by Larry Cermak @ https://www.theblockcrypto.com/tiny/cryptocurrency-exchanges-in-the-uk-present-low-risk-for-money-laundering-and-terrorist-financing/ December 11, 2018 Larry Cermak

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