On January 30, the Financial Action Task Force (FATF) released its Annual Report highlighting its priorities as well as ongoing work. Among the continuing projects was an updated guidance on how the FATF recommendations apply to virtual assets and virtual asset service providers (VASP) (see our article here).
Notable updates in the guidance:
Clarification of the definitions of virtual assets and VASPs
How the FATF Standards apply to stablecoins
Updates to the licensing and registration of VASPs
Additions to the implementation of the “travel rule”
Principles of information-sharing and co-operation