According to Odaily Planet Daily, the Financial Action Task Force (FATF) statistics show that 97 out of 130 jurisdictions only partially comply with or do not comply with anti-money laundering recommendations for the virtual asset sector.
In its recent update on virtual assets (VAs) and virtual asset service providers (VASPs), the FATF said the percentage of governments not complying with the recommendations is the same as it was in April 2023. Many jurisdictions are struggling to implement the basic requirements of Recommendation 15.
Specifically, 29% (42 out of 147 companies) have not conducted any virtual asset risk assessment at all. In addition, more than a quarter of respondents have not yet decided whether to regulate the VASP industry.
Meanwhile, 88 jurisdictions (60%) decided to allow VAs and VASPs, while 14% (20 jurisdictions) explicitly prohibited them.