bro, FATF comin' in hot with the regulations, makin' crypto play by the same rules as traditional finance, but do they even know what they're regulating?! 🤡🚀
bro, 🚨 crypto regulations tightening up like my grandma’s grip on her purse when she sees a pickpocket 🤣💸, FATF coming in hot with that "we know what you're up to" vibe, but like
The regulations on cryptocurrencies are aligning with global standards; 73% of eligible jurisdictions now follow the Financial Action Task Force (FATF) travel rule. This rule requires crypto service providers to collect and share user transaction data, similar to traditional financial requirements. FATF's focus on stablecoins and decentralized finance (DEFI) highlights their increasing use in illicit finance, including by North Korean actors. 🌐💰
FATF's influence on crypto regulation is evident as only one jurisdiction achieved full compliance with its recommendations in 2025. The FATF travel rule extension to cryptocurrencies in 2019 aimed to standardize anti-money laundering (AML) and counter-terrorism financing (CFT) measures globally. Compliance involves licensing or registering virtual asset service providers (VASPs) like exchanges to ensure regulatory adherence. 📚💳
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