Anti-Money-Laundering Watchdog Calls for Stronger Cryptocurrency Regulations

Anti-Money-Laundering Watchdog Calls for Stronger Cryptocurrency Regulations

June 21, 2019, The Wall Street Journal

Michael Nonaka is quoted in The Wall Street Journal regarding the Financial Act Task Force’s request to virtual currency firms to develop procedures for sharing customer information with other financial institutions. Mr. Nonaka says that some crypto companies have invested heavily in compliance, others have a long way to go to build the systems necessary for collecting and managing customer information. “We don’t know right now the extent to which the new rule will pose difficulties,” he adds.