Tag: fatf crypto

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South Africa’s FIC Unveils Draft Directive for Travel Rule Implementation; Crypto Industry Leader Issues Warning

May 5, 2024

The South African Financial Intelligence Centre recently issued a draft directive calling crypto-asset service providers to implement the Financial Action Task Force’s (FATF) travel rule. However, key figures in South Africa’s crypto industry say several factors could hinder the implementation of the FATF’s Recommendation 16. CASP Interactions With Unhosted Wallets The South African Financial Intelligence…
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Nigerian Central Bank Lifts February 2021 Crypto Prohibition Order

December 24, 2023

The Nigerian central bank has reversed its Feb. 5 order which barred banks and financial institutions from extending their services to crypto entities. The central bank said new guidelines align with the Financial Action Task Force’s updated recommendation 15, which calls for the regulation of virtual asset service providers. Guidelines Align With FATF’s Recommendation On…
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Over 200 Jurisdictions Agree on Timely Implementation of FATF Crypto Standards

February 26, 2023

The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to Implement FATF Crypto Standards…
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