虚拟资产和虚拟资产服务提供商标准实施情况的定向更新

The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotespolicies to protect the global financial system against money laundering, terrorist financing and the financing ofproliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-moneylaundering (AML) and counter-terrorist financing (CFT) standard. For more information about the FATF, please visitwww.fatf-gafi.org This document and/or any map included herein are without prejudice to the status of or sovereignty over anyterritory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The report is based on the work of the FATF’s Virtual Assets Contact Group members as well as the extensive input bythe FATF Global Network of FATF Members and FATF-Style Regional Bodies. It also benefited from consultations witha range of private sector stakeholders and other representatives from the virtual asset and virtual asset serviceprovider community. The FATF gives special thanks to the following blockchain analytics companies for their valuablecontribution to this exercise: Chainalysis, Lukka Inc, Merkle Science, and TRM Labs. Citing reference: FATF (2025),TargetedUpateon Implementation of the FATF Standards on Virtual Assets/VASPs,FATF, Paris,France,https://www.fatf-gafi.org/content/fatf-gafi/en/publications/Fatfrecommendations/targeted-update-virtual-assets-vasps-2025.html © 2025 FATF/OECD. All rights reserved.No reproduction or translation of this publication may be made without prior written permission.Applications for such permission, for all or part of this publication, should be made tothe FATF Secretariat, 2 rue André Pascal 75775 Paris Cedex 16, France (fax: +33 1 44 30 61 37 or e-mail:contact@fatf-gafi.org) Photocredits coverphoto ©Shutterstock Table of Contents Executive summary .......................................................................................................................................... 2Key Findings......................................................................................................................................................... 2Recommendations for the public and private sectors ........................................................................................ 3Next steps............................................................................................................................................................ 5Introduction ..................................................................................................................................................... 6SECTION ONE: Jurisdictions’ Implementation of FATF Standards on VAs/VASPs (R.15) ................................... 8Overall Status of R.15 Implementation in Mutual Evaluation and Follow-up Reports ....................................... 8Challenges assessing ML/TF risks of VAs and VASPs ......................................................................................... 10Challenges developing, implementing and enforcing a regime for VASPs........................................................ 11Implementation of the FATF’s Travel Rule ........................................................................................................ 16FATF work to accelerate global implementation of R.15 .................................................................................. 18SECTION TWO: ML/TF/PF Risks ..................................................................................................................... 19Use of VAs for predicate offences, money laundering, terrorist financing and proliferation financing ........... 19Stablecoins ........................................................................................................................................................ 20Decentralised Finance (DeFi)............................................................................................................................. 22SECTION THREE: Next Steps for the FATF and VACG ...................................................................................... 24Annex A. Updated Table: Status of Implementation of Recommendation 15 by FATF Members andJurisdictions with materially important VASP Activity.................................................................................... 25 Executive summary In 2019, the Financial Action Task Force (FATF) extended its global standards on anti-money laundering and counter-terrorist financing (AML/CFT) to apply to virtualassets (VAs) and virtual asset service providers (VASPs). This report provides a sixthtargeted review of implementation of the Standards (Recommendation 15 (R.15)) byFATF global network jurisdictions.1 Inline with the FATF Virtual Assets Contact Group’s Roadmap to increaseimplementation of R.15, this report also includes an updated table of the steps takenby FATF m