FATF
An intergovernmental organization responsible for setting global standards on anti-money laundering and counter terrorist financing. Its recommendations have been incorporated into the domestic law of most countries.
Timeline (last 90 days)
Cross-chain bridges (such as the Ronin Bridge and Wormhole incidents) have been a high-incidence link for attacks and money laundering in recent years, and their security and compliance gaps have become a key focus of the FATF.
The FATF includes DeFi, NFTs and decentralized exchanges in its definition of "virtual assets" and is gradually expanding the scope of application of the travel rule.
The FATF's guidance revised in 2023 extends the scope of application of the travel rule to transactions involving unhosted (self-hosted) wallets, requiring VASPs to perform additional due diligence on self-hosted wallet transfers above a certain threshold.
The Financial Action Task Force (FATF) is the intergovernmental body that sets global anti-money laundering standards, its recommendations have been incorporated into domestic law by most countries, and the FATF explicitly requires virtual asset service providers to perform KYC obligations equivalent to those of banks.
Every cross-border remittance on the SWIFT network retains counterparty information and is subject to FATF compliance requirements, with large transactions requiring KYC verification.
All Facts (5)
Cross-chain bridges (such as the Ronin Bridge and Wormhole incidents) have been a high-incidence link for attacks and money laundering in recent years, and their security and compliance gaps have become a key focus of the FATF.
50%UnverifiedThe FATF includes DeFi, NFTs and decentralized exchanges in its definition of "virtual assets" and is gradually expanding the scope of application of the travel rule.
50%UnverifiedThe FATF's guidance revised in 2023 extends the scope of application of the travel rule to transactions involving unhosted (self-hosted) wallets, requiring VASPs to perform additional due diligence on self-hosted wallet transfers above a certain threshold.
50%UnverifiedThe Financial Action Task Force (FATF) is the intergovernmental body that sets global anti-money laundering standards, its recommendations have been incorporated into domestic law by most countries, and the FATF explicitly requires virtual asset service providers to perform KYC obligations equivalent to those of banks.
50%UnverifiedEvery cross-border remittance on the SWIFT network retains counterparty information and is subject to FATF compliance requirements, with large transactions requiring KYC verification.
50%