FATF: About three-quarters of jurisdictions are not fully compliant with anti-money laundering recommendations for the virtual asset sector

July 13 news, according to the Financial Action Task Force on Money Laundering (FATF), 97 out of 130 jurisdictions are in "only partial compliance or non-compliance" with anti-money laundering recommendations targeting the virtual asset space. 88 jurisdictions (60%) have decided to allow virtual asset service providers (VASPs), while 14% (20 jurisdictions) have explicitly banned them. The FATF claims that stablecoins and anonymity-enhanced cryptocurrencies are increasingly being used by terrorist organizations and "rogue states".