FATF Report: Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers
This is the FATF’s fifth report on implementation of the FATF’s VA and VASP Standards at the global level, with a focus on analyzing the global implementation of R.15, including the Travel Rule.
The report consists of the following sections:
- Section 1 provides a brief update on Recommendation 15 results from across the FATF’s Global Network. It examines the main challenges that arise from ML/TF risk assessment, licensing and registration of VASPs, and offshore VASPs regulation.
- Section 2 summarizes the global implementation of the FATF’s Travel Rule. It also highlights the public and private sectors issues, as well as ways to solve them.
- Section 3 demonstrates the market development and emerging ML/TF risks. It also provides information on using the VA for TF and PF purposes.
- Section 4 sets out the next steps of the FATF and its Virtual Assets Contact Group (VACG).
