FATF SURVEY HIGHLIGHTS PROGRESS IN VASP AML CONTROLS FOR MAJOR VIRTUAL ECONOMY COUNTRIES
April 19th, 2024
A new FATF survey has suggested significant advances are being made in imposing AML/CFT on the use of virtual assets (VA) and on virtual asset service providers (VASPs), with 49 out of 58 countries surveyed establishing controls. The survey assessed all FATF members plus 20 jurisdictions with materially important VASP activity, including Russia, which remains suspended from FATF because of its ongoing invasion of Ukraine.
Of the nine countries lacking controls, China, Egypt and Saudi Arabia have banned the use of VASPs and VAs altogether. And of the other six, ...
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