The Financial Action Task Force (FATF) is launching a targeted review of jurisdictions with significant cryptocurrency activity to address gaps in the implementation and enforcement of global anti-money laundering standards.

The review will focus on jurisdictions with materially important virtual asset service provider (VASP) activity taking their existing regulatory assessment status into account.

The FATF has not named the jurisdictions selected for review. Countries including

  • the United States,

  • United Kingdom,

  • Singapore, and

  • United Arab Emirates (UAE)

collectively account for approximately 97% of the global virtual asset market.

 

Lagos Leads Africa Among Top 50 Cities Recognized as Crypto Hubs Globally

 

The watchdog’s July 2026 report found that 83% of surveyed jurisdictions had adopted crypto Travel Rule legislation but 55 of the 91 jurisdictions with such laws had yet to take supervisory or enforcement action.

The Travel Rule requires crypto service providers to collect and share information about the originators and beneficiaries of transactions.

 

REGULATION | IMF Reportedly Demanding Kenya Enforce Crypto Travel Rule to Curb Money Laundering, Terrorism Financing

 

Initial findings from the targeted review are expected in June 2027 with further results scheduled for October 2027.

The initiative marks a shift towards scrutinising actual enforcement of crypto regulations rather than simply whether countries have adopted the required legislation.

 

CRYPTO CRIME | FATF Calls for Tougher Crypto AML Enforcement Following Travel Rule Implementation

 

 

 

 

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