ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Thursday Jun 21st 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

FATF To Consider Binding Rules For Cryptocurrency Exchanges

By

Matthew

De Silva

WriterETHNews.com

Later this month, the Financial Action Task Force will review whether its June 2015 guidelines for cryptocurrency exchanges remain sufficient. FATF may opt for a binding framework.

On Tuesday, a Japanese government official, who spoke on the condition of anonymity, revealed to Reuters that the Financial Action Task Force (FATF) is contemplating "binding rules" for cryptocurrency exchanges. This would mark a step toward stricter regulation of the platforms, which have been guided by FATF's June 2015 standards.

The next round of FATF's plenary and working group meetings is slated for June 24-29 in Paris. It appears that the subject of tightened cryptocurrency regulation grew out of the G20 meetings, which occurred earlier this year.

According to the Japanese official, at the upcoming gathering, FATF will examine how to apply the existing rules to new cryptocurrency exchanges as well as how to approach countries that have outlawed cryptocurrency trading. The official noted that Japan wants to assume a prominent role during the discussions and the country is apparently angling for more stringent FATF standards by 2019, if not sooner.

Japanese cryptocurrency exchanges, including Coincheck, have caused a major headache for the country's regulator, the Financial Services Agency. Hacks, insufficient security protocols, and understaffing have been at the center of Japan's cryptocurrency conundrum. Still, within the country, a group of exchanges has banded together to form the Japanese Virtual Currency Exchange Association, a self-regulatory organization that bears some resemblance to a similar association suggested by the Winklevoss twins for platforms operating in the United States.

Matthew De Silva

Matthew is a full-time staff writer for ETHNews with a passion for law and technology. In 2016, he graduated from Georgetown University where he studied international economics and music. Matthew enjoys biking and listening to podcasts. He lives in Los Angeles and holds no value in any cryptocurrencies.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest FATF, Financial Action Task Force or other Ethereum world news.