Regulatory Alerts2020-01-08
Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers
The Financial Action Task Force issued this guidance to clarify how its anti-money laundering and counter-terrorist financing standards apply to virtual assets and virtual asset service providers. It requires jurisdictions to regulate, license, or register VASPs and apply a risk-based approach to supervision, monitoring, and preventive measures such as customer due diligence. The document further details obligations for transparency, international cooperation, and enforcement to mitigate money laundering and terrorist financing risks associated with virtual asset activities.
Share