June 26 (Cointime) - The Financial Action Task Force (FATF) has renewed its call for countries to implement the "travel rule" to combat money laundering and terrorism financing activities facilitated by cryptocurrencies. The UN body expressed concern that "many" member states have failed to implement the rule. FATF urged countries to implement anti-money laundering and counter-terrorism financing measures on crypto-related activities "without delay" to prevent criminals from exploiting significant loopholes not protected by regulation. A report will be published on June 27 calling on member countries to implement FATF's recommendations to close the loopholes which criminals look to exploit, including North Korea's illicit virtual asset activities.