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.

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.

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