Nuevo Vallarta, Nayarit.- Elisa de Anda Madrazo, president of the International Financial Action Group (GAFI), said that 82 percent of digital assets or cryptocurrencies are regulated in money laundering issues.
“We estimate that 82 percent of the entire virtual asset sector is already covered with a money laundering prevention regulation,” he said in the framework of the 88 Banking Convention “Banking and its contribution to the development of Mexico.”
He recalled that virtual assets are a novel sector and that even Gafi was the first international organism to recognize them in 2014.
“For 2018 we already had a definition of what was a virtual asset, how it had to regulate and how it had to supervise for washing prevention purposes and those recommendations entered into force in 2019,” said the Mexican government official.
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“From the new round of evaluations we will review how effective countries are being implementing and giving results with the new regulations of digital assets,” he explained.
“From our perspective there is a very important advance and we will publish a new report and update in the month of June,” he said.
“Today, countries that have a greater risk materiality of virtual assets are being mapped, either because of the number of users or for the amount of resources that are in virtual assets,” he said.
“At the moment we do not know how effective the money laundering prevention regulation has been, because we have to evaluate it with this new round, but there is a very important advance in the implementation of the regulation,” he said.
“Some countries enter that were not in that list because they did not have the number, whether users or the money threshold and no country comes out,” he added.
He said that there are more and more resources that are entering the virtual asset sector, a very important growth in what are called stable currencies, such as Stablecoins, which have a high presence in Latin America.
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“Before there were volatile coins where Bitcoin and stables entered, but now the stable currencies are growing exponentially and has implications of various types,” he said.
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