Best Crypto to Buy Now as FATF Seeks More Crypto Oversight
The post Best Crypto to Buy Now as FATF Seeks More Crypto Oversight appeared on BitcoinEthereumNews.com. Just as the world’s regulations are taking a step towards a more progressive direction, the Financial Action Task Force, a global financial crime watchdog, has urged governments to improve crypto oversight to combat illicit finance in crypto assets. The task force says that despite there being a lot of progress in this direction since 2024, there is still a lot to do. This conversation could lead to better laws emerging, potentially creating upsides for the cryptocurrency market, which makes it the right time to find the best crypto to buy now. Stronger Action Needed to Combat Illicit Finance – FATF “Borderless nature of crypto leads to regulatory failure in one jurisdiction to spread across the globe,” this is the rationale of FATF, and it is right. The borderless nature of the cryptocurrency ecosystem can spill over to a global threat. Thankfully, more and more jurisdictions have understood it. Forty out of 138 jurisdictions are compliant with FATF’s crypto standards, which is higher than 32, which was the count last year. Heightening the importance of FATF’s message is the increased number of criminal activities. Illicit crypto wallet addresses received up to $51 billion, according to Chainalysis. Out of this, $40.9 billion was received by illicit addresses, and $10.8 billion was received by “illicit-actor org.” “Illicit-actor org” is an umbrella term for wallets of services and individuals both directly committing cyber crimes like hacking, extortion, trafficking, or scams, as well as those facilitating this activity. It is important to note that this is not the first warning by FATF. Another warning was issued in April about this matter, which highlighted the risk cryptocurrency posed to financial stability. The wariness was coupled with caution about the US’s progressive regulations aimed at removing barriers between crypto and the traditional banking sector. “EU financial markets…
The post Best Crypto to Buy Now as FATF Seeks More Crypto Oversight appeared on BitcoinEthereumNews.com.
Just as the world’s regulations are taking a step towards a more progressive direction, the Financial Action Task Force, a global financial crime watchdog, has urged governments to improve crypto oversight to combat illicit finance in crypto assets. The task force says that despite there being a lot of progress in this direction since 2024, there is still a lot to do. This conversation could lead to better laws emerging, potentially creating upsides for the cryptocurrency market, which makes it the right time to find the best crypto to buy now. Stronger Action Needed to Combat Illicit Finance – FATF “Borderless nature of crypto leads to regulatory failure in one jurisdiction to spread across the globe,” this is the rationale of FATF, and it is right. The borderless nature of the cryptocurrency ecosystem can spill over to a global threat. Thankfully, more and more jurisdictions have understood it. Forty out of 138 jurisdictions are compliant with FATF’s crypto standards, which is higher than 32, which was the count last year. Heightening the importance of FATF’s message is the increased number of criminal activities. Illicit crypto wallet addresses received up to $51 billion, according to Chainalysis. Out of this, $40.9 billion was received by illicit addresses, and $10.8 billion was received by “illicit-actor org.” “Illicit-actor org” is an umbrella term for wallets of services and individuals both directly committing cyber crimes like hacking, extortion, trafficking, or scams, as well as those facilitating this activity. It is important to note that this is not the first warning by FATF. Another warning was issued in April about this matter, which highlighted the risk cryptocurrency posed to financial stability. The wariness was coupled with caution about the US’s progressive regulations aimed at removing barriers between crypto and the traditional banking sector. “EU financial markets…
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