Russian financial watchdog calls for global crypto regulations

posted 9 months ago
Russia’s Financial Monitor Service (FMS) is seeking the intervention of a global financial watchdog to regulate cryptocurrencies. The Russian financial regulatory agency contacted the Financial Action Task Force, a global financial regulatory body, to request an intergovernmental initiative that could control the supply and flow of cryptocurrencies.

Pavel Livadny, the Deputy Director of FMS, confirmed that they are endeavoring to secure the participation of all the FATF member countries to design a unified legal parameter for the thriving industry, citing money laundering as the primary concern.
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