FATF’s crypto checklist hints at the next regulatory crackdown
The FATF is shaping global crypto rules from behind the scenes, with stablecoins and DeFi next in line for scrutiny.
Cryptocurrency regulations are increasingly aligning with global standards; 73% of eligible jurisdictions have now passed laws to implement the Financial Action Task Force’s (FATF) Travel Rule.
The Travel Rule mandates crypto service providers to collect and share users’ transaction data, similar to traditional finance requirements. On June 26, the FATF released its annual report that outlines how recent regulatory moves by jurisdictions are converging with its global Anti-Money Laundering (AML) framework.
This is a direct result of a years-long campaign by the FATF to bring cryptocurrencies in line with traditional AML and Counter-Terrorist Financing (CFT) standards.
