Global watchdog for money laundering to release cryptocurrency oversight rules by June

The Financial Action Task Force (FATF), an intergovernmental organization focused on anti-money laundering (AML), announced on Friday that the first set of rules for cryptocurrency oversight will be released by June. Jurisdictions around the world will be required to license or regulate crypto exchanges to help curtail crime such as money laundering and terrorism financing. Countries that do not implement satisfactory regulations will be added to the FATF blacklist which restricts access to the global financial system. (Source: Reuters)