Top Exchanges to Create User Info System for FATF Compliance – July 21

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,357

Bitcoin price has finally begun to make some larger moves, as it breaks back through the $9,300 mark on a rapid 2% rise.

Top-20 altcoins have mostly performed positively, with Ethereum up 2%, XRP up 1%, and Litecoin rising 4%.

Top Stories for July 21, 2020 🔥

👉 Top Exchanges to Create User Info System for FATF Compliance

Top exchanges including Coinbase are designing and creating a system for sharing user information for the Financial Action Task Force’s (FATF) compliance.

The project is being created in hopes that it will assist the cryptocurrency industry to comply with the FATF’s “travel rule”, which aims to prevent money laundering and terrorism financing.

The group of exchanges – which also includes Gemini, Kraken, and Bittrex – are expected to release a whitepaper on the system’s design next month.

👉 UK Government to Increase Oversight of Crypto Promotions

The UK government is looking to increase their oversight of cryptocurrency promotions, in an effort to clamp down on scams and “misleading” promotions.

A proposal has been submitted to create a regulatory gateway, which will evaluate cryptocurrency companies and products before permitting them to be promoted to UK residents.

👉 Wirecard Executive Allegedly Used Bitcoin to Run Away with Funds

Wirecard COO Jan Marsalek has reportedly used Bitcoin to move company funds to Russia, where he is currently in hiding.

The company made headlines recently, following $2 billion of company capital going unaccounted for in formal audits.