International Regulators Suggest Crypto, Traditional Markets Should Have Same Laws

An international coalition of regulators has published a report suggesting that cryptocurrencies like bitcoin and other digital tokens should be regulated in the same way as traditional currencies.

The report, released by the Financial Action Task Force (FATF), an intergovernmental body with members from more than 100 countries, recommends that all financial services regulators have a clear service to regulate cryptocurrencies.

The FATF asserts that cryptocurrencies are not money and should therefore be treated differently from traditional currencies. The agency also pointed out that cryptocurrencies can be used for illegal activities, especially money laundering and terrorist financing. Therefore, he recommends that governments adopt anti-money laundering laws and anti-terrorism financing rules to apply to cryptocurrency exchanges and wallets.