T. Raja Kumar, Chairman of the Financial Action Task Force (FATF), said before the G7 summit that G7 countries should set an example and regulate the crypto industry, including implementing the Travel Rule, so that there is no safe haven for illegal crypto transactions. FATF will launch an initiative to help countries take appropriate actions. This year's G7 Leaders' Summit will be held in Hiroshima, Japan from May 19 to 21.
As previously reported, G7 finance ministers asked the international anti-money laundering organization FATF to strengthen supervision of cryptocurrency transactions between individuals.
