FATF | ForkLog

ForkLog 28 29.03.2024

How Will FATF’s Methodology for Crypto Companies Change?

FATF has released a draft version of its new Mutual Evaluation Methodology. Experts will focus on the main risks and operational context of VASPs in each specific country. FATF recommendations are not legally binding, but non-compliance can harm the reputation of financial institutions in a country. FATF has not yet announced plans to include Russia […]

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ForkLog 13 26.03.2024

Binance Joins Global Travel Rule Alliance for FATF Compliance

Bitcoin exchange Binance has joined the Global Travel Rule (GTR) Alliance. The platform provides infrastructure to comply with the recommendations of the FATF. According to a statement, this “strategic step” aims to enhance regulatory compliance and strengthen data security. The Travel Rule, known as Recommendation 16 of the Group, requires the VASP to share client […]

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ForkLog 10 28.02.2024

FATF Downgrades Russia’s Rating Over Inadequate Bitcoin Market Regulation

Russia’s rating concerning the FATF recommendations on the virtual assets market has been downgraded to “Partial Compliance.” This is evidenced by a report from the EAG. According to the document, the jurisdiction is taking insufficient measures in the legislative regulation of virtual currency circulation. Experts specifically mentioned the absence of a definition for providers of […]

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ForkLog 8 13.12.2023

Russia warned of potential FATF downgrade over cryptocurrency regulation

The FATF could downgrade Russia's rating for compliance with its cryptocurrency-regulation recommendations.

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ForkLog 6 01.09.2023

Travel Rule comes into force in the United Kingdom

From September 1, UK-registered VASPs must comply with the FATF's Travel Rule, which requires monitoring of crypto transactions for AML purposes.

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ForkLog 11 26.06.2023

FATF expresses concern over pace of Travel Rule implementation

Participants in the FATF must promptly implement the so-called Travel Rule to close gaps not covered by regulatory acts, the organisation said in a statement following its plenary session.

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ForkLog 4 02.06.2023

FATF criticises Qatar central bank over lax oversight of crypto firms

The Central Bank of Qatar should improve its understanding of more complex forms of financial crime and tighten compliance with the rules it has set for registered virtual asset service providers. Such recommendations were issued by the FATF.

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ForkLog 6 24.05.2023

Japan’s parliament approves Travel Rule implementation to begin on June 1

From June 1, in Japan VASP will start to comply with the so-called Travel Rule from FATF, which entails monitoring crypto transactions for AML purposes. The local parliament approved the corresponding decision.

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ForkLog 4 17.06.2022

Panama’s president vetoes crypto bill over FATF recommendations

Panama's President Laurentino Cortizo has imposed a partial veto on the bill regulating the circulation of digital assets, saying that it needs to be revised to align with the country's financial rules.

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ForkLog 5 03.06.2022

Media: Venezuela to tighten oversight of Bitcoin transactions

The Venezuelan National Superintendency for Cryptoactives and Related Activities (Sunacrip) plans to strengthen oversight of transactions involving digital currencies.

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ForkLog 10 25.03.2022

South Korean crypto exchanges to comply with FATF guidance

The Financial Services Commission of South Korea notified cryptocurrency firms from 25 March 2022 to comply with the FATF travel rule. They must collect and share information about users making transactions of 1 million won or more (about $817).

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ForkLog 6 16.02.2022

US coalition launches TRUST platform to meet FATF Travel Rule requirements

A coalition of American crypto companies unveiled the TRUST platform. It will enable safe sharing of customer information under the FATF Travel Rule and help combat money laundering and the financing of terrorism.

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