GLOBAL MARKETS: Cryptocrackdown
Cryptocurrency exchanges will be subjected to rules to prevent digital coins such as bitcoin being used for money laundering
27 June 2019 - 05:00
Cryptocurrency exchanges will be subjected to rules to prevent digital coins such as bitcoin being used for money laundering, according to global watchdog Financial Action Task Force. It’s the first worldwide regulatory attempt to constrain cryptocurrencies. Countries will be compelled to register and supervise exchanges and custodians, which will have to carry out detailed checks on customers and report suspicious transactions, it says.
PODCAST | Business Day Spotlight - Libra is not a cryptocurrency...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.