FATF: UK needs to tighten control over the crypto industry

The Financial Action Task Force on Money Laundering (FATF) has called on the UK government to strengthen oversight of the cryptocurrency industry.

The FATF noted that at the moment the authorities are studying the risks associated with virtual currencies and are working on new legal norms. However, according to the report, the current British legislation needs to be improved.

It is noted that cryptobirds in the country are at risk, so the improved rules should strengthen the fight against money laundering and the financing of terrorism.

Recall that next year the FATF will introduce cryptocurrency regulation standards.

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