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It is reported that the results of the recent plenary meeting of the Financial Action Task Force (FATF) show that the FATF has reached an agreement on an actio…
It is reported that the results of the recent plenary meeting of the Financial Action Task Force (FATF) show that the FATF has reached an agreement on an action plan to promote the timely implementation of its global standard for cryptocurrencies. The decision made at the plenary meeting released on Friday pointed out that many countries have failed to implement the FATF specification, including its controversial Travel Rule, which requires service providers to collect and share encrypted traders’ information. The plenary meeting therefore reached an agreement on the road map to strengthen the implementation of FATF virtual assets and virtual asset service provider standards, which will include an inventory of the current implementation level of the global network. The report on its findings will be released in the first half of 2024.
FATF agreed to the action plan to promote the implementation of the global encryption specification
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