FATF SAYS STABLECOIN ISSUERS NEED TO CONSIDER ML/TF RISK BEFORE LAUNCHING THESE VIRTUAL ASSETS
October 2nd, 2021
The Financial Action Task Force (FATF) has called on financial institutions and virtual currency operators to take a special look at the AML/CFT risks associated with stablecoins before they release them, because of they may be widely acquired and spent. Because stablecoins’ value is supposed to be linked to a fiat currency value, most likely USD, and hence be more popular than floating virtual assets whose fiat value varies widely, FATF has said that virtual asset service providers (VASPs) and other AML/CFT obliged entities be careful. They “should identify ...
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