Financial Action Task Force to work on uniform guideline for global crypto platforms

Posted 13 June, 2018

The intergovernmental organization – Financial Action Task Force – plans to develop the set of rules for the crypto trading platforms worldwide.

According to the news reports, the organization will hold a meeting in late June to discuss the effectiveness of the rules, workability at the exchanges and their implementations in the countries that banned digital coins.

"This move, spurred by a call in March from financial policymakers from the world’s top 20 economies for regulators to monitor cryptocurrencies, would be a step up from the non-binding guidelines currently in place," the report said.

For reference, by now the platforms dealing with cryptos has received only guidelines covering registration and reports about suspicious activities. Moreover, the authorities in every country can determine the extent of the regulation for their own. 

"The guidelines, dating from June 2015, look for exchanges to be registered or licensed, for exchanges to verify customers’ identities to prevent money laundering and for suspicious trading to be reported."

After bitcoin became the legal payment means in Japan in April 2017, Tokyo plans to set the mandatory national regulation for crypto exchanges by 2019 and expects further cooperation with Europe and the USA as the official noted.

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13 June, 2018 17:32

← Heavy taxes make Finland unattractive for crypto miners

Over the past year, crypto traders totalling 3,300 paid some EUR 30 million taxes. However, crypto miners face even heavier tax burden, and everything indicates that this country is unlikely to become a good place for crypto businesses. Miners in Finland have to pay taxes, with mining activities being considered as an employment.

Heavy taxes make Finland unattractive for crypto miners

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13 June, 2018 14:13

First criminal proceeding against stealth mining launched in Japan →

Three police departments in Japan are working on the case of distribution of stealth browser miner CoinHive for Monero mining. The law enforcement forces have already launched criminal proceeding against three individuals, including a web-designer. One of the suspects faced JPY 100,000 ($904) fine for illegal malware placing.

First criminal proceeding against stealth mining launched in Japan
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