UN Task Force Rallies Again For Crypto ‘Travel Rule’ To Stem Money Laundering, Terrorism Financing

The United Nations Financial Action Task Force (FATF) has once again called on countries to implement the “travel rule” in order to combat money laundering and terrorism financing associated with cryptocurrencies. What Happened: In a recent post, the global body expressed disappointment that “many” of its member states have not adopted the rule, despite holding meetings in Paris. A survey conducted by the FATF revealed that over half of the respondents have taken no action to implement the Travel Rule, which is a crucial requirement. In response, the FATF is urging countries to promptly introd…