U.K. crypto firms have just days to comply with new anti-money laundering requirements – but they are seeking more guidance given patchy implementation of the controversial FATF rule between jurisdictions.
Others see it as essential in the fight against dirty money, and to improve crypto’s reputation. With just a total of, FATF in June described the failure to implement the rule as a “serious concern.”
“It's such a novel area, industry players had a million questions … and I'd say in most places, regulators were kind of really slow to provide guidance,” Brovin said. “A lack of harmonization will result in cracks in the system which can be exploited by those involved in criminal activity,” Cross told CoinDesk. “The FCA is certainly on the right track in implementing the rule, let’s hope the rest of the world is quick to follow.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Foot Locker's financial troubles are much worse than feared, leading us to reevaluate the stockFoot Locker (FL) reports a terrible quarter and lowers guidance. The specialty retailer also pauses its dividend.
Read more »
Bitcoin (BTC) Could Plummet to $12,500 According to This MetricAt least one analyst believes BTC's troubles could be far from over.
Read more »
Afghans Who Allied With U.S. Face Killings, Arrests Under Taliban Rule, U.N. FindsThe findings of the U.N. report are at odds with the amnesty declared by the Taliban for all former officials, after their fighters walked into Kabul in August 2021.
Read more »
Proposed new rules would require cars to give more warnings when you're not wearing a seatbelt -- even in the back seatFederal officials will be taking public comment on the proposed rule for the next 60 days.
Read more »
Could Holton Ahlers be one of the biggest beneficiaries of the new third QB rule?The undrafted free agent out of East Carolina is showing off some impressive tools in the preseason, but will it be enough to stick around in Seattle?
Read more »