On 30th October, FATF issued an updated Methodology covering how it (and regional FATF-style bodies) carries out its mutual evaluations. The amendments made are connected to assessments relating to virtual assets and their providers, and are detailed on page 179 of the guidance, including –
- a new paragraph and footnote to provide guidance on how to assess requirements relating to virtual assets and virtual asset service providers;
- the addition of references to virtual assets and virtual asset service providers; and
- the addition of further guidance on how to assess requirements relating to virtual assets and virtual asset service providers and new criteria to reflect the amendments to the FATF Standards.
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