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.