همفکران فناوری شریف
1Introduction
In June 2019 FATF adopted the Interpretive Note to Recommendation 15, extending AML/CFT standards to virtual asset service providers such as crypto exchanges.
2Discussion
A central requirement is the Travel Rule, long applied to wire transfers under Recommendation 16: required originator and beneficiary information must accompany virtual asset transfers to the receiving provider. FATF allows a de minimis threshold of USD/EUR 1,000.
3Conclusion
FATF follow-up reports show uneven and slow implementation across jurisdictions. For crypto businesses, compliance means customer due diligence, secure data exchange with counterparties and transaction monitoring, a condition for staying connected to the regulated financial system.
Sources
- FATF — Virtual Assets: Updated Guidance for a Risk-Based Approach (2021) ↗
- FATF — The FATF Recommendations ↗
همفکران فناوری شریفThis article summarises the official sources cited, prepared by the Hamfekran Fanavari Sharif team for finance leaders.
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