FATF on virtual currencies

According to an article on the FATF website with the outcomes of the plenary of 21-23 February 2018, virtual currencies are getting special attention:

Improving the understanding of virtual currencies risks
FATF considered a report on the AML/CFT risks associated with virtual currencies and the regulatory measures being taken in different countries. The improved understanding of the misuse and risk of virtual currencies will lead to FATF undertaking additional work streams.

Update on FinTech & RegTech Initiatives
At the November 2017 Plenary, the FATF expressed its strong support for responsible financial innovation in line with the FATF Standards and to explore the opportunities that new financial and regulatory technologies present for improving the effective implementation of AML/CFT. Various work streams on FinTech and RegTech are currently underway as the FATF considers how its standards apply in this context. The FATF Plenary heard presentations from some of its member countries concerning the FinTech and RegTech initiatives they were implementing. The FATF is also working to improve its understanding of the misuse and potential risks which may be posed by virtual currencies.

Other FATF documents on virtual currencies:

Answers on questions regarding virtual currency and AML by a member of the Dutch Parliament are to be found here (16 February 2018).

Over Ellen Timmer

Weblog: https://ellentimmer.com/ ||| Microblog: https://mastodon.nl/@ellent ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
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