Financial Action Task Force on Money Laundering recommends the national governments to regulate bitcoin exchanges. The organization included opinion in “Risk-guided approach to Virtual Currencies”.
In the extensive document representatives of regulatory organizations try to give advice on virtual currency regulation. These recommendations are very vague, but the main message is clear
FATF suggests paying special attention to exchange organizers
At the same time FATF experts advice national governments not to regulate digital currencies per se. “Do not seek to regulate users who obtain VC to purchase goods or services,” says the document. It also supports the idea of the consulations between the regulator and the businesses
The Financial Task Force on Money Laundering was established by G7 in 1989. As of 2015 FATF consists of thirty-four member jurisdictions and two regional organizations, the EU and the Gulf countries council. The organization coordinates national efforts against financing of terrorism and money laundering.
In 2014 FATF was one of the first international organization to present a positive opinion on bitcoin. In the special paper published in June 2014 FATF defined digital currency and did it in favorable terms.