Preliminary guidelines on crypto assets and money laundering issued by the Financial Action Task Force (FATF) could be a tipping point for the crypto industry.
From June 2019, crypto products and their service providers will be required to register or obtain a license from the relevant authorities. They will also be required to establish effective monitoring systems for anti-money laundering (AML) compliance, and they must hold and make available to authorities, accurate information on both buyers and sellers of crypto assets.