Financial Action Task Force (FATF), is an inter-governmental
body whose aim is to maintain the standards and promote effective
implementation of laws and measures which is to be taken correctly.
In a meeting held in Paris, about 35 countries have urged to
take action against threats related to money laundering, terrorist financing,
etc. held to regulate cryptocurrencies and countermeasures to tackle the use of
cryptocurrencies for illicit activities. Many countries including India have
agreed to the petition, seeing to that India had also created an
interdisciplinary committee proposing new regulations related to digital
currencies. The laws have been revised to protect the India cryptocurrency
holders from the fraudster and scams.
India has been working on the regulatory framework since the
financial budget of 2018 has arrived, as India is one of the major countries in
Southern Asia. Seeing the frenzy trend of cryptocurrency among the people, the
government have decided to regulate the cryptomarket and planning to stricken
the Anti-money laundering (AML) policies. AML policy is meant to terminate all
the illicit activities and all the other misuses of cryptocurrency. The
possibility of fraud through cryptocurrency is because of the anonymity which
it provides the users.
Money Trade Coin group is a pioneer of cryptocurrency
market. It has introduced a vast segment of businesses trading, buying and
holding of currency in India and longer for more opportunity to satisfy all the
customers, keeping in mind the regulations and rules set by the Indian
government.
Money Trade Coin has
acquired a 100% stake in Summit Wealth Management AG - A leading Swiss
financial advisory firm. The acquisition will follow a recent uptick in the
cryptocurrency market across the world. Based in Zug Switzerland, Summit Wealth
Management AG offers a comprehensive set of personalized financial services in
an assortment of wealth management areas, such as estate, tax, insurance and
retirement planning through its team of experts, industry familiarity and
innovative processes.
Association Romande Des Intermediaries Financiers (ARIF), a
non- profit organization working to intercept activities on money laundering
and terrorist financing. Summit Wealth
Management AG is an affiliated member of ARIF, hence Money Trade Coin can avail
prominence into professional activities and promise conformity with
understanding underAML and ARIF’s decree of self-regulation rules.
No comments:
Post a Comment