FATF to Release Imminent Cross Border Guidance on Digital Currencies

Following a plenary meeting this week in Florida US, the international Financ1ial Action Task Force (FATF) is expected to publish guidance for national financial regulators' oversight of transactions in virtual currencies and other digital assets.

The regulations are said to enforce companies to require their clients to send recipient data for transactions above USD $1,000, and notify the transaction to the recipient's crypto trader or provider.