More than 30 countries will soon need to adopt stricter rules governing cryptocurrency exchanges and transactions or risk falling out of step with new international standards.

The Financial Action Task Force (FATF)—an inter-governmental group focused on money laundering—signed off on guidance June 21 instructing crypto exchanges to gather and transmit more user data. The guidance is meant to crack down on illicit financial activity by ensuring more details are known about parties on the receiving end of virtual asset transfers. The U.S.-backed guidance would require other nations to take an approach to cryptocurrency similar to how the U.S. Treasury Department currently polices the industry.

The widespread adoption of FATF-recommended rules could make compliance a nearly impossible task, given the need for major technology updates, according to some industry experts. They say the timing of regulations could also spur compliance difficulties.

"Countries aren't going to adopt the exact same regulations and they won't do it at the exact same time," said Terence Grugan, of counsel at Ballard Spahr's Philadelphia office. "That’s going to be a problem."

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