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FATF Crypto Proposals: MASSIVE Hidden RISK?!! 😱

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0:00 Intro
1:47 About The Author
2:53 What Is The FATF?
4:17 The FATF’s “Recommendations”
6:09 Why Is The FATF So Influential?
8:26 What Will Happen In October?
10:59 Cryptocurrencies Which Could Benefit
13:27 How To Prepare
16:39 Conclusion


⛓️ 🔗 Useful Links 🔗 ⛓️

► Reddit Post About FATF Crypto Crackdown:
► The Decentralized Legal System:
► Wesley Thysee Twitter:
► FATF Crypto Travel Rule Introduced:
► Uniswap Delists Cryptocurrencies:
► Uniswap Hints KYC:
► Grayscale’s Existing Crypto Trusts And Cryptos Under Consideration:
► Crypto Ratings Council Securities Classification:
► ThorChain Cross Chain DEX Explained:


👨‍💻About The Reddit Post Author👨‍💻

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

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

👨‍🏫What Is The FATF?👨‍🏫

The FATF’s 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

Following the news that Facebook was planning on launching the Libra stablecoin in 2018, the FATF adopted a mandate to ‘combat any threats to the integrity of the international financial system’

⚖The FATF’s Cryptocurrency “Recommendations”⚖

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 ‘travel rule’

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

🕵️‍♂️Why Is The FATF So Influential?🕵️‍♂️

If you’re wondering why the FATF’s recommendations are so influential, it’s because any countries that don’t comply are put on the FAFT’s ‘graylist’ or worse, their ‘blacklist’

As Wesley and others have pointed out, the FATF’s recommendations have the power to supersede any national laws and undermine the democratic processes by which those laws come to be

😱What Will Happen To Cryptocurrency In October?😱

For starters, cryptocurrencies will not be banned because of the FATF’s recommendations, not even privacy coins, peer to peer transactions, mixers, or any other technologies that preserve privacy

Instead, the FATF will label all these things and anything else that doesn’t involve a regulated intermediary as ‘high risk’. Over time, these activities will be banned

🤑 Cryptocurrencies That Could Benefit🤑

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

✊How To Prepare ✊
That it’s very unlikely that we’ll see any changes happen overnight. History suggests that the FATF’s recommendations will take a very long time to implement, much less enforce

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.


📜 Disclaimer 📜

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.

#crypto #regulation #defi #fatf

Source: Coin Bureau

32 Responses

  1. Special thanks to Wesley on his research into the FATF proposals 🙏. Do you guys think we could see more action in October? I somehow wonder if this amendment does not go through, Yellen will try to use some form of these FATF rules to further regulate crypto. Thoughts? Don't forget to follow me on my other social channels for the content you are not getting here 👉 https://guy.coinbureau.com/socials/

  2. We should take these upcoming enforcement and regulations very seriously and should look into only those cryptos which we are sure will pass these new FATF regulations. I am not sure about other cryptos and thinks 99.9% of cryptos will get ban but i am sure about Neuralium which will pass these enforcement easily.

  3. 1.618 comments that is very special we will all be rich i wish you all great success an great health god bless you all much love from Aotearoa New Zealand an thank you Coin Bureau for such informative videos cheers bro chur

  4. I was really hopeful of my investments this year, but all my plans has been disoriented, I've been studying the market crashes and I realized some investors made millions from the recent 2008 recession and I was wondering if such success rate could be achieved in this present market.

  5. they can't stop crypto. All they can do is affect the on/off ramps from/into Fiat.
    Centralized exchanges that are compliant will just fall. DEX's will thrive & people just will learn not to use any part of the old banking system at all by paying direct.
    If i have a business i will accept crypto & pay employees all in crypto.

  6. The "high risk" stuff is how I make most of my money. Like QYLD stock does covered calls. It goes down 1% but pays out 10-12% even in terrible markets. The only reason crypto is high risk is that the governments can just decide they don't like it and ban it.

    My parents are against cypto so I never had the opportunity to do it. My plan was to move out in 2-3 years and put $10,000 into a cryptomining. These crummy 10% returns are garbage compared to the 120% roi of crypto.

  7. Pretty pathetic of UniSwap to be pulling protocols from it's stable before this clamp-down has even had any effects. Capitulating in advance does not bode well for the future (if that is actually the reason why they have been pulling things out of their exchange. If not, my apologies to Uni).

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