The Financial Action Task Force (FATF) has launched a targeted review process to accelerate implementation of its standards for virtual assets and virtual asset service providers (VASPs), as agreed at its October plenary. The review will focus primarily on jurisdictions with materially important VASP activity, based on their current assessment status. Implementation remains uneven across the global network, allowing criminal networks to exploit gaps and the movement of virtual assets across borders. The process supplements mutual evaluations and their follow-up, which remain the primary mechanisms for assessing implementation. Subsequent monitoring and accelerated reporting are intended to strengthen accountability and prompt action on identified deficiencies. Initial results will be published in June 2027, with further results in October 2027. FATF also encouraged donors and technical assistance providers to prioritize support for jurisdictions facing significant challenges implementing Recommendation 15.
FATF launches targeted virtual asset review, with results due in June and October 2027
The Financial Action Task Force (FATF) has launched a targeted review focused primarily on jurisdictions with materially important virtual asset service provider activity. Monitoring and accelerated reporting will seek to address uneven implementation of its virtual asset standards. Initial findings are due in June 2027, followed by further results in October 2027.