Financial Action Task Force (FATF)

Which of the following is a key focus of the FATF's recent work regarding new technology?

MCQ

MCQ Answer

A. Regulating social media content.

B. Developing standards for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs, e.g., cryptocurrency exchanges). Correct

Explanation

The FATF extended its standards to VAs/VASPs to prevent them from being exploited for ML/TF purposes.

C. Standardizing mobile phone hardware.

D. Regulating the manufacturing of microchips.

Correct Answer

Developing standards for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs, e.g., cryptocurrency exchanges).

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