(Forbes Magazine) -- A backlash is brewing in the cryptocurrency business sector as financial authorities prepare to enforce regulations that directly challenge cryptocurrency technology’s pseudonymous and permissionless nature. However, this backlash is a sign that many in the crypto space are missing the bigger picture. Stronger regulations for anti-money laundering and countering the financing of terrorism (AML/CFT) are exactly what is needed if cryptocurrencies are to achieve mass adoption.
In late June, the Financial Action Task Force (FATF), an intergovernmental body that sets global AML/CFT standards, plans to finalize an update to its recommendations regarding new technologies in order to strengthen regulations on “virtual assets.”
Continue Reading: https://www.forbes.com/sites/yayafanusie/2019/05/29/stronger-aml-enforcement-might-actually-save-crypto/#69eb9a757e78