Global money-laundering watchdog launches crackdown on cryptocurrencies

Cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering, a global watchdog said on Friday, the first worldwide regulatory attempt to constrain the rapidly growing sector.

Financial Action Task Force (FATF), set up 30 years ago to tackle money laundering, told countries to tighten oversight of

cryptocurrency exchanges to stop digital coins being used to launder cash.