FATF gives targeted update on virtual assets progress

The FATF has published its 7th update on implementation of its standards on virtual assets and virtual asset service providers. It says many jurisdictions, especially those that have significant VASP activity, have made progress, but there is further need for work on regulation, licensing and registration, and it has noted that there are challenges in identifying those who are conducting VASP business.

The report also looks at some emerging risks.