FATF Ex-Members Joins Advisory Team
Former members of the FATF (Financial Action Task Force) have joined the Shyft Network’s advisory team. In the press release, Shyft Network, a public blockchain protocol, declared that it would add Josee Nadeau, the former head of the Canadian delegation to the FATF, and Rick McDonell, the former FATF executive. They will be the new members of its board of advisers.
In addition to that, the FATF became one of the most important financial regulatory organizations around the world. Though it cannot enforce recommendations, adherence to its guidelines is essential for financial inclusion in major economies and markets.
The FATF in late June released a new set of guidelines on how the regulation of digital assets should happen. The guidelines impose the same standards on the cryptocurrency sector, which the banking industry usually shoulders.
Now, it has become the travel rule; the FATF guidelines require regulators and Virtual Asset Service Providers (VASPs) to gather and share personal data about transactions. And if a business will not comply, it will be shut out from lucrative international markets.
Meanwhile, Bitcoin (BTC) seems to settle into a new range for the time being. And this happened after a massive 42% price spike that began on October 25th.
Moreover, the future looks brighter for Bitcoin as it sits near $9,460 compared to its price around $7,500. The good news will continue if the asset can hold current levels and press forward. But Bitcoin showed another gap on the Chicago Mercantile Exchange’s (CME) BTC futures chart, posting a potential drop ahead.
Aside from that, if Bitcoin’s price ever makes a big move while the CME is closed, it would leave a gap in the candles on the charts. The coin has been traveling these gaps while eventually filling them with price activity.
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