The Financial Action Task Force concluded its October plenary, where it approved for publication an updated guidance for a risk-based approach to virtual assets and virtual asset service providers as well as a final report on survey results on implementation of the FATF Standards on cross-border payments. The FATF also finalised a report for government officials that focuses on the digital transformation of AML/CFT for operational agencies.

Comments by FATF President Marcus Pleyer at Fourth G20 Finance Ministers and Central Bank Governors meeting, 13 October 2021, where he urged G20 countries to implement the FATF Standards, including the travel rule requirements, as soon as possible, and said effective AML rules are also crucial to ensure proper oversight of global stablecoins. 

At its virtual plenary, FATF members discussed the publication of a report on the 12-month review of the implementation of FATF’s requirements on virtual assets and virtual asset service providers, which apply to the fast expanding cryptocurrency industry, as well as the publication of a report to the G20 on stablecoins.