The Group of Seven (G-7) advanced economies must take the lead in implementing recommendations by the Financial Action Task Force (FATF) to combat illicit financial flows through crypto, the president of the global financial crimes watchdog said in a letter on Thursday.
The strongly-worded message titled “An end to the lawless crypto space” was published ahead of a meeting of G-7 leaders in Hiroshima, Japan starting Friday.
The group’s finance ministers and central bank governors have already discussed crypto regulation in a meeting last weekend, and is set to reiterate their support to tougher crypto rules globally at the summit.
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The FATF has urged countries
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