FATF agrees on roadmap for implementation of crypto standards

The Financial Action Task Force, or FATF, has reported that its delegates have come to an agreement on an action plan “to drive timely global implementation” of global standards on cryptocurrencies.

In a Feb. 24 publication, the FATF says the plenary for the financial watchdog — consisting of delegates from more than 200 jurisdictions — met in Paris and reached a consensus on a roadmap aimed at strengthening the “implementation of FATF Standards on virtual assets and virtual asset service providers.” The task force says that in 2024, it will report on how FATF members have moved forward on implementing the crypto standards, including regulation and supervision of VASPs.