EL SALVADOR COULD EXIT CFATF DUE TO LACK OF INDEPENDENCE AND CONTROL OVER BITCOIN

On 25 August, Investing.com reported that El Salvador could leave the FATF-style regional body after warnings that there is a danger of increased money laundering, and that the requirements of the Caribbean regulatory body could be violated; and El Salvador could be removed from the Caribbean Financial Action Task Force (CFATF) due to the lack of independence and control over Bitcoin in preventing money laundering, when the Bitcoin Law comes into force on 7 September.

https://www.investing.com/news/cryptocurrency-news/el-salvador-could-exit-the-cfatf-due-to-lack-of-independence-and-control-over-bitcoin-2599043

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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