\ud83d\udcf2 Insider Info in my Socials \ud83d\udc49 https:\/\/guy.coinbureau.com\/socials\/
\n\ud83d\uded2 Get The Hottest Crypto Deals \ud83d\udc49 https:\/\/guy.coinbureau.com\/deals\/
\n\ud83d\udc55 “Bitcoin Believe” Shirt \ud83d\udc49 https:\/\/store.coinbureau.com\/product\/btc-believe-white-t-shirt\/
\n\ud83d\udd25 TOP Crypto TIPS In My Newsletter \ud83d\udc49 https:\/\/guy.coinbureau.com\/signup\/<\/p>\n

~~~~~<\/p>\n

\ud83d\udcfaEssential Videos\ud83d\udcfa<\/p>\n

DeFi Regulatory Risks \ud83d\udc49 https:\/\/youtu.be\/2E-2e3VO5eE
\nStablecoin Collateral Crackdown \ud83d\udc49 https:\/\/youtu.be\/TxcTDNHSS-U
\nHow To Research Cryptocurrencies \ud83d\udc49 https:\/\/youtu.be\/HCLWDGYnAzk
\nCrypto Tax Tips \ud83d\udc49 https:\/\/youtu.be\/EMNSwa_PkkA<\/p>\n

~~~~~<\/p>\n

– TIMESTAMPS –
\n0:00 Intro
\n1:47 About The Author
\n2:53 What Is The FATF?
\n4:17 The FATF\u2019s \u201cRecommendations\u201d
\n6:09 Why Is The FATF So Influential?
\n8:26 What Will Happen In October?
\n10:59 Cryptocurrencies Which Could Benefit
\n13:27 How To Prepare
\n16:39 Conclusion<\/p>\n

~~~~~<\/p>\n

\u26d3\ufe0f \ud83d\udd17 Useful Links \ud83d\udd17 \u26d3\ufe0f<\/p>\n

\u25ba Reddit Post About FATF Crypto Crackdown: https:\/\/www.reddit.com\/r\/CryptoCurrency\/comments\/o9fd7l\/governments_planning_global_coordinated\/
\n\u25ba The Decentralized Legal System: https:\/\/decentralizedlegalsystem.com\/
\n\u25ba Wesley Thysee Twitter: https:\/\/twitter.com\/Decentral_Law
\n\u25ba FATF Crypto Travel Rule Introduced: https:\/\/cointelegraph.com\/news\/not-everyone-is-happy-but-we-have-to-move-on-some-challenges-to-the-fatfs-new-guidance
\n\u25ba Uniswap Delists Cryptocurrencies: https:\/\/cointelegraph.com\/news\/uniswap-delists-100-tokens-from-interface-including-options-and-indexes
\n\u25ba Uniswap Hints KYC: https:\/\/twitter.com\/ChrisBlec\/status\/1419303683255382016
\n\u25ba Grayscale\u2019s Existing Crypto Trusts And Cryptos Under Consideration: https:\/\/grayscaleinvest.medium.com\/update-grayscale-investments-exploring-additional-assets-e4e80da683bb
\n\u25ba Crypto Ratings Council Securities Classification: https:\/\/www.cryptoratingcouncil.com\/asset-ratings
\n\u25ba ThorChain Cross Chain DEX Explained: https:\/\/www.coinbureau.com\/review\/thorchain-rune\/<\/p>\n

~~~~~<\/p>\n

\ud83d\udc68\u200d\ud83d\udcbbAbout The Reddit Post Author\ud83d\udc68\u200d\ud83d\udcbb<\/p>\n

A lot of the information in this video came from content created by Wesley Thysse who is actually the author of the Reddit post which inspired this video<\/p>\n

In addition to having a tax law firm of his own, Wesley is the founder of The Decentralized Legal System, an organization that aims to create a comprehensive international legal framework for crypto<\/p>\n

\ud83d\udc68\u200d\ud83c\udfebWhat Is The FATF?\ud83d\udc68\u200d\ud83c\udfeb<\/p>\n

The FATF\u2019s original purpose was to prevent money laundering in most major economies around the world. Like all governmental initiatives, the scope of their operations has only expanded since then<\/p>\n

Following the news that Facebook was planning on launching the Libra stablecoin in 2018, the FATF adopted a mandate to \u2018combat any threats to the integrity of the international financial system\u2019<\/p>\n

\u2696The FATF\u2019s Cryptocurrency \u201cRecommendations\u201d\u2696 <\/p>\n

Just a few months after the new mandate, the FATF decreed that all virtual asset service providers or VASPs must collect KYC on all its users as per the infamous \u2018travel rule\u2019<\/p>\n

For those unfamiliar, the FATF travel rule requires that the sender and recipient in any transaction over a certain amount to be identified in the name of AML<\/p>\n

\ud83d\udd75\ufe0f\u200d\u2642\ufe0fWhy Is The FATF So Influential?\ud83d\udd75\ufe0f\u200d\u2642\ufe0f<\/p>\n

If you\u2019re wondering why the FATF\u2019s recommendations are so influential, it\u2019s because any countries that don\u2019t comply are put on the FAFT\u2019s \u2018graylist\u2019 or worse, their \u2018blacklist\u2019<\/p>\n

As Wesley and others have pointed out, the FATF\u2019s recommendations have the power to supersede any national laws and undermine the democratic processes by which those laws come to be<\/p>\n

\ud83d\ude31What Will Happen To Cryptocurrency In October?\ud83d\ude31<\/p>\n

For starters, cryptocurrencies will not be banned because of the FATF\u2019s recommendations, not even privacy coins, peer to peer transactions, mixers, or any other technologies that preserve privacy<\/p>\n

Instead, the FATF will label all these things and anything else that doesn\u2019t involve a regulated intermediary as \u2018high risk\u2019. Over time, these activities will be banned<\/p>\n

\ud83e\udd11 Cryptocurrencies That Could Benefit\ud83e\udd11<\/p>\n

By forcing everyone involved in crypto to comply with KYC, it suddenly makes cryptocurrency investing a sanctioned course of action for both public and private institutions<\/p>\n

\u270aHow To Prepare \u270a
\nThat it\u2019s very unlikely that we\u2019ll see any changes happen overnight. History suggests that the FATF\u2019s recommendations will take a very long time to implement, much less enforce<\/p>\n

Stablecoins will likely be the first to fall as they pose the greatest threat to the integrity of the existing financial system according to the FATF. <\/p>\n

~~~~~<\/p>\n

\ud83d\udcdc Disclaimer \ud83d\udcdc<\/p>\n

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.<\/p>\n

#crypto #regulation #defi #fatf
\n
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\ud83d\udcf2 Insider Info in my Socials \ud83d\udc49 https:\/\/guy.coinbureau.com\/socials\/ \ud83d\uded2 Get The Hottest Crypto Deals \ud83d\udc49 https:\/\/guy.coinbureau.com\/deals\/ \ud83d\udc55 “Bitcoin Believe” Shirt \ud83d\udc49 https:\/\/store.coinbureau.com\/product\/btc-believe-white-t-shirt\/ \ud83d\udd25 TOP Crypto TIPS In My Newsletter \ud83d\udc49 https:\/\/guy.coinbureau.com\/signup\/ ~~~~~ \ud83d\udcfaEssential Videos\ud83d\udcfa DeFi Regulatory Risks \ud83d\udc49 https:\/\/youtu.be\/2E-2e3VO5eE Stablecoin Collateral Crackdown \ud83d\udc49 https:\/\/youtu.be\/TxcTDNHSS-U How To Research Cryptocurrencies \ud83d\udc49 https:\/\/youtu.be\/HCLWDGYnAzk Crypto Tax Tips \ud83d\udc49 https:\/\/youtu.be\/EMNSwa_PkkA […]<\/p>\n","protected":false},"author":1,"featured_media":3953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[33],"tags":[50,3143,1093,560,3144,254],"class_list":{"0":"post-3952","1":"post","2":"type-post","3":"status-publish","4":"format-video","5":"has-post-thumbnail","7":"category-videos","8":"tag-crypto","9":"tag-fatf","10":"tag-hidden","11":"tag-massive","12":"tag-proposals","13":"tag-risk","14":"post_format-post-format-video"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/3952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=3952"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/3952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/3953"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=3952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=3952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=3952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}