In 2019, the Financial Action Task Force asked jurisdictions worldwide to adopt its regulatory guidelines for virtual assets. At the V20 conference today, held online, David Lewis—executive secretary and G20 deputy at the organization—gave an overview of how implementation and business response have gone so far. The FATF is an intergovernmental organization tasked with combating money laundering. Its 2019 directives for regulating crypto, which include a controversial section dubbed the “travel rule,” are designed to mitigate illicit uses of virtual assets, and to bring the sector into line with traditional banking regulations.…
Crypto firms still not widely adopting ‘travel rule,’ says FATF deputy
