FATF News

The new guidelines reportedly expand the definition of Virtual Asset Service Providers to include DApps, ICOs and related services.

South Korean exchanges will require users to verify their third-party wallet addresses to help the country comply with FATF travel rule guidelines.

Cyprus’s finance ministry stressed the need to accelerate its capacity building for the crypto industry.

The Financial Action Task Force has laid out its perspective on crypto, including its views of nonfungible tokens and decentralized finance.

Despite DeFi apps not being VASPs under the FATF standards, the authority still wants them regulated like VASPs.

Launched in production in 2020, Notabene’s Travel Rule solution now processes transactions among 50 crypto exchanges.

The “Travel Rule” aims to bring reporting standards for virtual asset service providers in line with other traditional financial institutions.

Coinfirm said it would be able to provide the same AML/CFT analytics for assets minted on Cardano, a number that may grow as the project prepares to expand to smart contracts.

The provisions of the U.S. infrastructure bill stirred up a heated debate, but many of the fears voiced by its critics are misguided.

Any overseas activity outside Korea that has domestic effects or consequences shall be subject to the amended crypto regulation.

Arak Sutivong believes DeFi requires a framework for long-term and sustainable interactions with traditional finance.

ECLAC executive secretary stressed that there is no study yet that would have investigated potential risks or benefits of El Salvador accepting BTC as legal tender.

Following bans in Japan, the U.K. and Ontario, Binance is ramping up its compliance efforts with a specialized tool developed by crypto intelligence firm CipherTrace.

“Portraying this sector as one which is not subject to adequate supervision is not a reflection of reality and does not do justice to the work and efforts of the MFSA and VFA Agents,” said the VFA Agents Business Unit.

The Financial Action Task Force, a membership body of 37 jurisdictions and two regional organizations, has flagged Malta’s initial push to attract cryptocurrency business as “problematic.”