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June 21, 2019Law & sovereign policyRegulatory guidancedocumented

FATF applies global standards to virtual-asset providers

The Financial Action Task Force adopted guidance applying anti-money-laundering standards, including transfer information duties, to virtual-asset service providers.

The Interpretive Note to Recommendation 15 required jurisdictions to license or register covered providers and supervise them for AML compliance. Its transfer-data requirement became widely known as the crypto Travel Rule.