Executive Summary of the Updated FATF Report on Crypto and VASP Regulation

Inside the FATF’s plans for crypto regulation. Learn about global AML/CFT compliance challenges and the new Travel Rule guidelines.

Lots More to Do! Image created using DALL-E.

Issuing Organization:

The report is issued by the Financial Action Task Force (FATF), an independent inter-governmental body focused on developing policies to safeguard the global financial system from money laundering, financing terrorism, and the proliferation of weapons of mass destruction. The FATF sets the global standard for anti-money laundering (AML) and counter-terrorist financing (CFT).

Report Issuance Date:

June 2023.

Purpose of the Report:

This report represents the fourth targeted review by the FATF on implementing its standards on virtual assets (VAs) and virtual asset service providers (VASPs), including the Travel Rule. It provides an update on emerging risks and market developments in this area.

Target Audience:

The report is relevant for regulatory bodies, policymakers, and private sector entities involved in the virtual asset ecosystem, particularly focusing on those responsible for implementing AML/CFT measures.