US SEC Embraces Crypto Guidance Amid Global AML Pressure

The US Securities and Exchange Commission (SEC) has followed in the footsteps of the Commodity Futures Trading Commission (CFTC) by issuing staff guidance for crypto. This move comes as the global community grapples with the implementation of anti-money laundering (AML) regulations.

The Financial Action Task Force (FATF), a global watchdog, has been instrumental in shaping AML standards. However, critics argue that FATF's policies can be used as a tool for economic coercion by powerful nations.

Iran, which remains on FATF's list of high-risk countries, has been at the receiving end of such pressure. The country's alleged involvement in money laundering and terror financing has made it vulnerable to international sanctions.