Have Crypto, Will Travel: Industry Gets Down To Details On FATF Standards

Comprehensive international standards may be the most straightforward way for virtual currency operators to adhere to the most recent set of demands from the Financial Action Task Force (FATF), experts have said.

In June this year, FATF released its updated set of requirements for the cryptocurrency sector, addressing a number of perceived shortcomings around regulation of what the international standards-setting body called virtual asset service providers (VASPs).

Among the new stipulations was that VASPs meet the same requirements that FATF applies to financial institutions for wire transfers. 

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