FATF prepares global guidelines for crypto currencies | Payment Services Law Blog | GÖRG Blog

FATF prepares global guidelines for crypto currencies

International regulation regarding crypto currencies

The plenary session of the FATF discussed regulation in conncection with crypto currencies. According to Reuters, the President of the FATF declared that the guidelines will be published in June next year.

Entities providing financial services by issuing new crypto currencies (initial coin offerings) shall be be subjected to these rules. The transposition of the regulations would be regularly oserved by the FATF as international supervisory authority. If particularly countries do not follow these guidelines, they could be added to a black list by the FATF. This could restrict access to the global financial system.

The development of these guidelines and its impact on the market must however still be observed.

See the FATF statement

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