The Financial Action Task Force (FATF) is set to introduce a set of regulations that will have a major impact on the cryptocurrency industry. In this video, we’ll be discussing which cryptocurrencies are likely to survive this upcoming regulation.
First off, it’s important to note that the FATF doesn’t have the authority to outright ban any cryptocurrency. However, its regulations could make it difficult for certain cryptocurrencies to operate in certain jurisdictions. This is because the FATF regulations are designed to ensure that all crypto transactions are tracked and that the underlying assets are traceable.
The cryptocurrencies that are most likely to survive these regulations are those that already have measures in place to ensure that transactions are tracked and assets are traceable. These include Bitcoin, Ethereum, Ripple, and other blockchains that have implemented Know Your Customer (KYC) and Anti-Money Laundering (AML) measures.
Other cryptocurrencies, such as privacy-focused coins like Monero and Zcash, are likely to struggle under the new regulations. These coins are built on the premise of anonymity and it is unlikely that they will be able to comply with the FATF regulations without sacrificing their core principles.
It’s also important to note that the FATF regulations will likely result in increased scrutiny of exchanges and other service providers in the cryptocurrency space. Exchanges that are not compliant with the regulations may be forced to shut down or face other regulatory penalties.
Ultimately, it is still too early to tell which cryptocurrencies will survive the upcoming FATF regulations. However, it is safe to say that the coins that are most likely to survive are those that already have measures in place to ensure compliance.
