FATF Reports Widespread Non-Compliance with Global Crypto Regulations.
The Financial Action Task Force (FATF) has called on member states to implement the Travel Rule to combat money laundering and terrorism financing activities enabled by cryptocurrencies. FATF claimed that "more than half" of respondents in a survey said they had taken no action to implement the rule. The FAFT travel rule was implemented to target the anonymity of illegal cryptocurrency transactions. FAFT said it would publish a report on June 27 calling on member countries to implement its recommendations in order to close the loopholes which it says criminals look to exploit.