The Financial Action Task Force (FATF) is intensifying its pressure on virtual asset service providers (VASPs) and countries to accelerate the implementation of its rules on digital assets, as only a quarter of responding jurisdictions are currently making efforts to pass legislation to implement the organization’s key requirement, indicates the organization’s recent report.
The FATF is an inter-governmental entity established in 1989 to set standards and promote measures to combat money laundering, terrorist financing, and related threats to global finance.
The vast majority of jurisdictions overseen by the FATF have not yet fully implemented the organization’s R.15/IN.15 requirements which set the global anti-money laundering (AML) and counter-terrorist financing (CTF) standards for virtual assets and VASPs, according to the report.
“Of the 53 jurisdictions that have been assessed by the FATF’s Global Network since June 2021, the majority still require major or moderate...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...