FATF: About three-quarters of surveyed jurisdictions do not fully comply with anti-money laundering recommendations related to virtual assets

Odaily News According to the Financial Action Task Force (FATF), 97 out of 130 jurisdictions only partially comply or do not comply with anti-money laundering recommendations for the virtual asset sector. In its recent update on virtual assets (VAs) and virtual asset service providers (VASPs), the FATF said that the proportion of governments that do not comply with the recommendations is the same as in April 2023. Many jurisdictions are struggling to implement the basic requirements of Recommendation 15. Specifically, 29% (42 out of 147 companies) do not conduct a virtual asset risk assessment at all. In addition, more than a quarter of respondents have not yet decided whether to regulate the VASP industry. At the same time, 88 jurisdictions (60%) have decided to allow VAs and VASPs, while 14% (20 jurisdictions) explicitly prohibit them. (Bitcoin.com)