FATF updates virtual asset guidance

FATF has updated its 2019 guidance on a risk based approach for virtual assets and virtual asset service providers. The updates focus on:

• definitions of key terms;
• clarification of application of FATF standards to stablecoins;
• additional guidance on addressing the risks in peer to peer transactions;
• updates on licencing and registration of VASPs;
• guidance on the “travel rule”; and
• principles on information sharing and cooperation among supervisors.