AML/CFT regulation of crypto assets needs rapid reform – BIS report

Few jurisdictions are implementing “travel rule” for crypto assets, report says

crypto-coins

Regulators must start applying international anti-money laundering standards to crypto assets, a Bank for International Settlements report says.

“There is a critical need for swift and global implementation of international standards,” authors Rodrigo Coelho, Jonathan Fishman and Denis Garcia Ocampo warn. In most countries implementation remains “a work in progress”, they say.

The authors say the Financial Action Task Force’s guidelines on anti-money laundering and combating the financing of

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