Updates on the Implementation of the FATF Standards

The Financial Action Task Force (FATF) published a Targeted Update on Implementation of FATF Standards on Virtual Assets and Virtual Assets Service Providers.

The most highlighted issue is the low degree of compliance among the public and private sector regarding the adoption of the Travel Rule. As pointed out in a previous posts (On FATF’s Updated Guidance, Updates about Virtual Assets and VASPs from FATF), our blockchain is perfectly compliant regarding these regulations: all the issues highlighted by the FATF are due to the technical difficulties of coordinating the implementation on old blockchains that were never designed for supporting said functionalities.