The cryptocurrency sector will face another challenge soon - this time, a new recommendation by the Financial Action Task Force (FATF), an international body creating multi-country policies against money laundering. Already, exchanges have started restricting users, and stepping up their screening procedures, or KYC.
On June 21, the international agency will publish a report with recommendations to local governments on how to handle cryptocurrencies, exchanges, and other related businesses.
FATF compliance can potentially affect more than 200 countries and require crypto exchanges to perform user verification. In the past, sudden requirements for de-anonymiz...