The Financial Action Task Force is looking to adapt its guidance standards for stablecoins and crypto peer-to-peer transactions.
The Financial Action Task Force says it is set to publish an update to its guidelines on cryptocurrencies and virtual asset service providers; a catch-all term including exchanges, wallet providers, and custody platforms, among others.
This updated document will also be made available for public consultation from key stakeholders.
According to a circular issued by the FATF on Thursday, the decision to update its guidance on VASPs was the result of the organization’s three-day plenary session.
As part of its announcement, the intergovernmental that focuses on policies aimed at combating money laundering and terrorist financing revealed that the updated guidelines will be published in the first week of March.
The new guideline will be an update to the June 2019 document that introduced the travel rule compliance for VASPs.