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FATF Gray Lists Croatia, Urges Tougher Scrutiny of VASPs

By Koos Couvée

The Financial Action Task Force next year will begin naming and shaming countries that fail to properly regulate cryptocurrencies amid concerns that crime syndicates have exploited generally lax supervision of virtual asset service platforms. FATF President Raja Kumar said at the end of a three-day summit in Paris on Friday that nearly three-quarters of all jurisdictions assessed during the current round of evaluations only partially comply with the group's standards for regulating cryptocurrency exchanges and other VASPs for anti-money laundering purposes, or do not comply at all. "Global implementation of these measures remains relatively poor," Kumar said. "This lack of...

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