FATF (Financial Action Task Force) was established in 1989 by the Arush Summit Declaration.
It refers to an intergovernmental organization established to promote international cooperation in combating money laundering.
Since the terrorist attacks on the United States on September 11, 2001, the FATF has also been working to promote international measures and cooperation to prevent the provision of funds to terrorist organizations.
For cryptocurrencies as well, the FATF, in response to a request from the G20, is developing international standards from the perspective of preventing the risk of cryptocurrencies being used for money laundering and terrorist financing.
The FATF’s influence on the development of cryptocurrency regulations is one of the most important topics that will affect the market.