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.