On 28 March 2024, the Financial Action Task Force (FATF) published a table setting out the status of the implementation of Recommendation 15 by FATF members and other jurisdictions with the most materially important virtual asset service provider activity. The table follows a stocktake of current levels of implementation across the global network.

FATF notes that many countries have yet to fully implement the FATF’s requirements on virtual assets and virtual asset service providers to prevent their misuse for illicit finance. The lack of implementation of these requirements (Recommendation 15) leaves significant loopholes globally, that criminals and terrorists exploit.