FATF update guidance on risk based approaches for virtual assets and virtual asset service providers
November 11, 2021
On 28 October 2021, the Financial Action Task Force (FATF) published updated guidance for a risk-based approach for virtual assets (VA) and virtual asset service providers (VASP). This guidance mentions how the FATF plans to closely monitor the VA and VASP sector for any material changes that necessitate further clarification of the FATF standards. This includes areas covered in this guidance such as, stablecoins, peer-to-peer transactions, non-fungible tokens and decentralised finance.