FATF Recommendation 15 Tackles Cryptocurrencies & Virtual Assets

By in

The international Financial Action Task Force (FATF) is close to finalising its interpretive note to the recently revised Recommendation 15, which clarifies how the FATF standards apply to virtual asset services and transactions.

Recommendation 15 focuses on the following risks and how to mitigate them, namely:

The development of new products and new business practices, including new delivery mechanisms.
The use of new or developing technologies for both new and pre-existing products.