The Currency Analytics
By David Drake
Last month, the global watchdog, known as the Financial Action Task Force (FATF), released a report showing that digital currency exchanges in the UK are at a low risk of…
For most players in the cryptocurrency space, the report is an affirmation of the emerging threat that these challenges pose for digital assets.
In its report, the FATF recommended that the country enhances its understanding of risks associated with digital currencies.
The FATF conducted a comprehensive assessment to determine the extent to which the UK complies with FATF recommendations and effectiveness of its counter-terrorism financing and…
The decision to describe the UK as a leader in the fight against terrorism financing and money laundering was informed by the fact that the country has taken significant steps in…
The agency termed the Joint Intelligence Task Force on Money Laundering in the UK as innovative.
But even with these successes, the UK still needs to do more to address the money laundering and terror financing problem within its borders.
They stated that it is not yet clear whether data generated via Suspicious Activity Reports was being utilized fully by investigators.
As a global agency tasked with setting standards for fighting terror financing and money laundering, the FATF has developed guidelines detailing operations of initial coin…
It is also a way of improving global coordination on regulation issues, as well as making the crypto space safer and better for all players involved.
Disclaimer: David Drake is on the advisory board for most of the firms mentioned or quoted in this article.