The Financial Action Task Force (FATF) has launched a targeted review of jurisdictions with significant Cryptocurrency activity, aiming to identify gaps in the implementation of global anti-money laundering requirements.
The intergovernmental body said the review would focus mainly on jurisdictions with “materially important” virtual asset service provider activity. Existing assessment statuses will also be considered, while the FATF’s regular assessments and follow-up procedures will remain its primary tools for evaluating compliance.
The watchdog plans to publish initial findings in June 2027, followed by additional results in October 2027. The process will also include monitoring and more rapid reporting to track how jurisdictions address identified shortcomings.
The FATF has not disclosed which jurisdictions are under review or how many will be included. Cointelegraph said it had contacted the organization for further details but had not received a response by publication.
The review follows a FATF report published in July that found 83% of surveyed jurisdictions had adopted legislation implementing the crypto Travel Rule. However, the report identified continued enforcement weaknesses: 55 of the 91 jurisdictions with such laws had not yet taken supervisory or enforcement action to ensure compliance.
The report also said authorities faced difficulties identifying unlicensed crypto businesses and supervising providers serving customers in their jurisdictions from overseas. The Travel Rule requires crypto service providers to share information about the sender and recipient of transfers.
Sources: Cointelegraph.