Korean Government Approves Crypto AML Rule Set to Come Online Thursday
Crypto companies have until September to register with financial regulators.
The Financial Action Task Force addressed DeFi and NFTs in its new proposed draft guidance, but its new definitions might be extremely broad.
The former FATF officials will help steer Binance's global regulatory strategy, the exchange said.
The FSA wants to implement the rule by April 2022.
Governments have "very little incentive" to change money laundering rules to accommodate crypto, says the long-time head of the FATF.
An exchange spokesperson said the new anti-money laundering regime would make it too tough to continue operating.