S. Korean Financial Representative: Standardizing Cryptocurrency Needs Multi-Country Cooperation

According to the Yonhap News, on April 26, the South Korean financial representative attended the general meeting of Financial Stability Board (FSB) held by the Federal Reserve Bank of New York. At the meeting, the representative said, the current problems of cryptocurrency need to be solved through multi-country cooperation, and in this way, people can standardize cryptocurrency without regulatory loopholes. In addition, he also pointed out that countries need to follow the international standards for anti-money laundering relating to cryptocurrency formulated by the Financial Action Task Force (FATF), an international anti-money laundering organization, to develop relevant laws and regulations.