Date: June 30th 2020
Published on: Regulation
AML, Cryptocompliance, Cryptocurrency, CTF, FATF, stablecoin, VASP,
On 24 June 2020, FATF President Xiangmin Liu chaired the third and last Plenary meeting under the Chinese Presidency. During the lockdown due to the COVID-19 pandemic, the FATF keep working hard especially as the new money laundering and terrorist financing threats is emerging.
AML/CTF risks for virtual currencies and stablecoins were part of the subjects on the table.
Scorechain has listed important outcomes of the session:
Regarding the risk mitigation of money laundering and terrorist financing of virtual assets:
The full 12-month review will be published at the beginning of July and a 12-month review will be conducted again until June 2021.
Regarding the FATF Report to the G20 about stablecoins
The full report will be publicly released at the beginning of July.
As the European leader in crypto AML/CTF solution, Scorechain is continuously improving its products to adapt to the evolving regulations, to help customers to fulfil regulatory requirements and to facilitate their compliance team’s work.
Implementing Scorechain is a value of following FATF recommendations.
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