Post
Topic
Board Legal
Re: Coming international crypto regulation in Oct from G20 organization FATF
by
CryptoSites
on 15/07/2021, 18:41:36 UTC
Having recently talked with members of FATF and OECD on policy issues my understanding is that they will be looking to set up a baseline KYC procedure for bringing digital assets into the traditional regulatory/finance world. The most common framework i've see so far would use some sort of gatekeeping wallet where deposits will need to sit in a "deposit wallet" first where the receiver can then risk score the assets with KYT info (blockchain analytic firms) before accepting it into their wallet. Privacy coin deposits wont be banned but they would subject the depositor to non-blockchain based source of funds analysis.