FATF members in Paris significantly accelerate virtual asset standards implementation
Business
The Financial Action Task Force (FATF) just wrapped up a big meeting in Paris, where FATF member countries agreed to significantly accelerate the effective implementation of the FATF Standards on virtual assets (VAs).
Their main goal? Stop money laundering, scams, and terrorist funding that can misuse virtual assets.
FATF watchlist changes and reviews planned
Some countries, like Bulgaria and Monaco, have improved enough to get off FATF's watch list.
But Vietnam has been told to pick up the pace on reforms, while Myanmar and Iran are still lagging behind.
The FATF also plans special reviews for places with lots of virtual asset activity, with updates expected next year.