FATF: 83 PER CENT OF THE JURISDICTIONS SURVEYED HAVE ADVANCED ENCRYPTION CONTROL AND IMPLEMENTATION OF TRAVEL RULES

THE FINANCIAL ACTION TASK FORCE (FATF) ISSUED THE SEVENTH TARGETED UPDATE OF THE STANDARDS FOR VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS, REPORTING THAT 83 PER CENT OF THE JURISDICTIONS SURVEYED HAD ADVANCED ENCRYPTION AND TRAVEL RULES AND 11 JURISDICTIONS WERE STILL WORKING ON THEM. FATF REQUIRES JURISDICTIONS TO PROMOTE THE REGULATION, LICENSING AND REGISTRATION OF VIRTUAL ASSET SERVICE PROVIDERS (VASP) AND REFERS TO OFFSHORE VASP REGULATORY CHALLENGES AND CASES OF CURRENCY ABUSE, INCLUDING THE ISSUANCE OF A MONEY-LAUNDERING NODE IN CAMBODIA AND THE PROMOTION OF A STABLE CURRENCY THAT CAN RESIST THE ASSET FREEZE。