FATF head urges G7 to bring order to ‘lawless crypto space’

The Financial Action Task Force (FATF) head T Raja Kumar said G7 nations need to take a more proactive approach to regulate the “lawless crypto space” as it continues to allow illicit financial transactions to occur around the world.

Kumar made the comments in a letter published ahead of the G7’s 2023 Summit in Hiroshima slated for May 19, where the group will discuss various agenda items for the year, including the regulation of cryptocurrencies and the overall industry.