On July 3, 2019, the Financial Action Task Force (FATF)
published an updated version (dated June 2019) of its anti-money
laundering (AML) and counter-terrorist financing (CTF)
standards.
This version includes the recently adopted interpretative note
to Recommendation 15 (new technologies), in which the FATF explains
how its standards apply to virtual asset activities and virtual
asset service providers (VASPs). Recommendation 15 defines a VASP
as any natural or legal person who is not covered elsewhere under
the recommendations and who as a business conducts one or more of
the following activities or operations for or on behalf of another
natural or legal person:
- Exchange between virtual assets and
fiat currencies
