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New global cryptocurrency system set to fight money laundering

Framework would require exchanges to confirm users' personal data

Governments around the world are looking for ways to prevent cryptocurrencies from being used for money laundering.

TOKYO -- Global standard-setters have asked the crypto industry to create a system to collect and share personal data on individuals who conduct cryptocurrency transactions. The goal is to prevent funds from being laundered, going to terrorist organizations or otherwise being put to illicit use.

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