FATF News

The Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering and Terrorist Financing Law.

The U.K. passed legislation in 2022 to make it one of the few countries in compliance with the extension of the Travel Rule to crypto.

The country emphasizes the necessity of dealing with the risks of digital assets in developing economies.

The licensed financial institutions would be required to verify the identities of all customers.

While adopting restrictions on transactions between exchanges, bitFlyer still supports transactions to and from self-custody wallets like MetaMask.

Pakistan was taken off the FATF gray list in October, and it has good reasons to want to stay in international good graces.

Part of the FATF’s “Travel Rule” includes recommendations that financial institutions obtain information on the originators and beneficiaries of certain crypto transactions.

Meeting international Anti-Money Laundering standards is the latest in a series of measures Japan has taken in recent months to improve its cryptocurrency regulation.

PayPal has stepped up its regulatory compliance by joining TRUST to streamline its reporting requirements relating to the digital assets “travel rule.”

GMEX has acquired ING’s Pyctor business to connect CeFi and DeFi amid the increasing demand for hybrid finance.

“Countries that have not introduced Travel Rule legislation should do so as soon as possible, and FATF jurisdictions should lead by example," said the organization.

Although the president has previously called the laws innovative, his concern regarding Anti-Money Laundering measures has put the bill back up for debate with the government.

Regulation will touch every person in every jurisdiction worldwide, so crypto must find ways to preserve its decentralization and privacy.

Law enforcement — alongside regulators and policymakers — needs to be better educated to truly make a difference and unlock further crypto mass adoption.

Industry representatives call the authorities not to go beyond the scope of the FATF Travel Rule recommendation.