FATF updates virtual asset guidance

FATF has updated its 2019 guidance on a risk based approach for virtual assets and virtual asset service providers. The updates focus on:

  • definitions of key terms;
  • clarification of application of FATF standards to stablecoins;
  • additional guidance on addressing the risks in peer to peer transactions;
  • updates on licencing and registration of VASPs;
  • guidance on the “travel rule”; and
  • principles on information sharing and cooperation among supervisors.

Emma Radmore