Digital currencies subject to anti-money laundering campaign
Business
A global regulator said on Friday that digital-currency companies would be subject to rules to prevent currency misuse, such as money-laundering, in the world's first regulatory attempt to curb a fast-growing sector.
FATF, which established 30 years ago to combat money-laundering, asked countries to tighten supervision of digital currency exchanges to prevent the use of those currencies for money laundering.
This move from FATF, which includes countries such as the United States and China and bodies such as the European Commission, reflects growing concern among international law enforcement agencies that digital currencies are being used to launder funds from crime proceeds.
Countries will be forced to register and supervise companies associated with digital currencies, such as stock exchanges and custodians, who will have to conduct detailed customer checks and report suspicious transactions, VTV said.
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