Money laundering risks from “stablecoins” and other emerging assets


October 18 2019

In June, the FATF introduced the first global standards to address the money laundering and terrorist financing risks of virtual assets. Today the FATF agreed how to assess countries’ implementation of these new requirements.

Given the global nature of virtual assets, it is essential that countries implement these requirements swiftly, in particular understanding the risks and ensuring the effective supervision of the sector. From now on, FATF will assess, as part of its mutual evaluations, how well countries are implementing these measures. Countries that have already undergone their mutual evaluation will be required to report back during their follow-up process on the actions they have taken in this area.