The global anti-money laundering watchdog is closely monitoring developments on ...
LONDON - The global anti-money laundering watchdog is closely monitoring developments on Facebook’s planned Libra cryptocurrency, its new head told Reuters on Tuesday, in the latest sign of growing regulatory scrutiny of the project.
“We want to make sure that if there are significant risks, they need to be addressed,” said Xiangmin Liu, the president of the Paris-based Financial Action Task Force , which acts as the global standard-setter on anti-money laundering. In the first global attempt to bring the crypto sector to heel, the FATF - a body set up 30 years ago to tackle money laundering - told countries in June to tighten oversight of cryptocurrency exchanges to stop digital coins being used to launder cash and finance terrorism.
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