FATF Releases Guidance for Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers

On June 21, 2019, the Financial Action Task Force (FATF) adopted and issued an Interpretive Note to Recommendation 15 on New Technologies (INR. 15), which clarifies FATF’s previous amendments to the international standards relating to virtual assets.

The note describes how countries and obliged entities must comply with the relevant FATF Recommendations to prevent the misuse of virtual assets for money laundering and terrorist financing and the financing of proliferation.

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