FATF: Targeted update on implementation of the FATF standards on virtual assets and virtual asset service providers

This report is a targeted review of implementation of these standards, and also provides an update on emerging risks and market developments in this area. Compared to the 2023 survey results, jurisdictions, including some with materially important VASP activity, are deemed to have made progress in putting AML/CFT regulation in place or are in the process of doing so.  However, FATF considers that a continued lack of implementation of the relevant FATF Standards globally means that VAs and VASPs remain vulnerable to misuse and overall implementation of the Standards remains behind that of other financial sectors.  The report sets out key areas for improvement and recommendations for public and private sectors.