The Financial Action Task Force (FATF) is making a special system collect, review and look into the personal information of citizens engaged in cryptocurrency transactions in any way.
Developed by FATF, the software will cover not just one country many countries around the world. Already, 15 countries have been demonstrated to be co-operating using the FATF on the issue, among that come with Names which includes Australia and Singapore, which are usually G7 members.
According to sources such as the Nikkei Asian Review and Finance Magnates, it won’t be before FATF can prepare amazing features. The statements made to this point are the fact that the plans to do this system must be completed in 2020;? the equipment itself is asked to be ready in a few years.
Special Tracking System,
The info about this system, designed by the Financial Action Task Force, ordinarily are not yet known. No official public comment has been created on this issue.
According to current information, it is known to be used specifically to end illegal activities for example money laundering and terrorism financing. Another known thing is the system brought to life by FATF? will be utilised by the private sector.