Int’l Securities Commission Wants Stricter Crypto Exchange Measures

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The International Organization of Securities Commission (IOSCO) is calling on global regulators to get tougher on crypto exchanges. IOSCO Has Money Laundering Concerns The international watchdog IOSCO has cautioned regulators this week to look into how cryptocurrency exchanges assess their investors. This, the entity maintains, will cut down on money laundering activity. Beyond obvious stricter KYC policies, the watchdog has even suggested that regulators should consider restricting crypto-asset trading platforms (CTPs) to working with regulated intermediaries trading on behalf of their clients. It also wants regulators to assess whether CTP clients are being given “sufficient risk disclosures.” Not only would this serve to protect investors, IOSCO argues, but it could cut down on illegal activity. When you consider the plethora of dubious exchanges like the now-defunct Cryptopia and their woefully insufficient AML policies, the suggestions from IOSCO may seem to come from a good place. However, adding yet another intermediary…

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