Watchdog calls for regulation of cryptocurrency firms over money laundering

LONDON (Reuters) – A global money-laundering watchdog said on Friday that cryptocurrency exchanges and other firms should be regulated or licensed to prevent digital money being used for money laundering and the financing of terrorism.

FILE PHOTO: A cryptocurrency mining computer is seen in front of bitcoin logo during the annual Computex computer exhibition in Taipei, Taiwan June 5, 2018. REUTERS/Tyrone Siu/File Photo

The Financial Action Task Force (FATF), a Paris-based body that sets standards on anti-money-laundering counter terror financing, said all jurisdictions should take urgent legal and practical steps to stop the misuse of cryptocurrencies.

Reporting by Tom Wilson; Editing by Matthew Mpoke Bigg

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