G20 urges all countries to enforce FATF crypto standards

posted about 2 months ago
G-20 finance chiefs urged all countries to implement crypto standards set by the Financial Action Task Force (FATF), an international money-laundering watchdog, this past weekend in Riyadh, Saudi Arabia. The current FATF crypto guidelines are supported by the G20 and require exchanges to collect and send customer information for all transactions, including both the originator’s and beneficiary’s name & account number, as well as the originator’s location.

The G20 financial chiefs also said “We recognize the need to enhance global cross-border payment arrangements to facilitate lower-cost and swifter transfers, including for remittances. We ask… to develop a roadmap to enhance global cross-border payment arrangements by October 2020.”
Tags: bitcoin, blockchain, news