[Analysis] The upcoming FATF interpretive note is not doomsday for cryptocurrency - Coin Center

Coin Center published a summary of the developing regulatory suggestions for cryptocurrencies from The Financial Action Task Force (FATF). Recent news reported that, among other things, these new rules suggested all member nations to require exchanges to share client information. According to Coin Center:

1. The interpretation will not call for any substantial departure from current US policy that has been in place since 2013.

2. The definition of who qualifies under certain definitions from the FATF (e.g., Virtual Asset Service Provider) is somewhat vague and requires interpretation.

3. The United Kingdom’s HM Treasury might be reading too much into the recommendations, which Coin Center said is one thing that does concern them and about which they have filed a comment.