A Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers

In June 2019, the FATF issued new guidance in the form of an interpretative note to its 40 recommendations to further clarify how the FATF requirements should apply in relation to virtual assets and virtual asset service providers. This guidance was issued to help both national authorities in understanding and developing regulatory and supervisory responses to virtual asset activities and virtual asset service providers, and the private sector seeking to engage in virtual asset activities in understanding their obligations in prevention of financial crime. The guidance will also help private sector organizations to apply FATF requirements to businesses within their sector.

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