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With more than 70 members, the Financial Action Task Force — FATF — stands as the international body that sets the standards and guidelines to prevent money laundering and terrorist financing. This organization, through its recommendations, significantly influences the legislative framework for preventing money laundering in many current states.
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On January 10, the deadline for the transposition of the so-called “Fifth Directive” regarding the prevention of money laundering and terrorist financing concluded — Directive 2018/843 —.
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Cryptocurrencies like Bitcoin can be potential tools used by criminals to launder proceeds from illegal activities. This assertion was already noted by the Financial Action Task Force (FATF) in 2014, stating that cryptocurrencies are “potentially vulnerable to money laundering and terrorist financing abuse,” and emphasizing the need for legislation and preventive measures regarding these assets.
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