FATF: How Will the Guidelines Affect Canada’s Crypto Industry?

As of June 2020, it will have been one year since the Financial Action Task Force (FATF) published Recommendation 16; it will also be the deadline for when countries should have entered the process of making these guidelines into laws.

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However, each country will have its own iteration of what those laws will look like; as such, the respective cryptocurrency industries in each of the countries that makes the decision to comply with the FATF guidelines will have its own unique set of regulations.

Recently, Finance Magnates sat down with Elsa Madrolle, General Manager of blockchain security company CoolBitX’s International department, to speak about the effects of the possible effects of implementing the guidelines–specifically, in Canada.

In many ways, Canada has sort of ‘flown under the radar’ when it comes to the crypto world. While countries across Asia and Europe, and certain parts of the United…