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INDIA’S FINANCIAL HOUSE OF CARDS: FATF Tells Them to Get Their Virtual Asset Regulation Together or Else the World Will End… Again!

Crypto NewsRegulation/Negotiation Sam Rogers September 24, 2024

An illustration of a precarious house made entirely out of playing cards on top of a pile of coins, surrounded by fluttering virtual currency symbols (e.g., Bitcoin) that are threatening to topple it over.

Well, well, well! Looks like India’s got its house in order… sort of. The Financial Action Task Force (FATF) is giving them a pat on the back for doing better at regulating illicit finance and money laundering. But don’t get too excited, folks – they’re still not perfect. It seems that our friends over in India need to work on their risk-based approach when it comes to protecting non-profits from terrorist financing (because who doesn’t love a good game of .

Source: bitcoin.com

FATF Urges India to Strengthen Virtual Asset Regulation
https://news.bitcoin.com/fatf-urges-india-to-strengthen-virtual-asset-regulation
India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, especially in regulating the non-financial sector and virtual asset providers. The country was urged to adopt a risk-based approach to protect non-profits and address delays in financial crime […]

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Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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