Definition ∞ FATF Standards Implementation describes the process by which national jurisdictions adopt and enforce the recommendations set forth by the Financial Action Task Force. These standards specifically target virtual assets and virtual asset service providers, aiming to combat money laundering and terrorist financing. The implementation involves enacting laws and regulations that align with FATF guidelines.
Context ∞ The implementation of FATF standards is a dominant topic in global cryptocurrency regulation news, impacting how digital asset businesses operate worldwide. Jurisdictions are under pressure to demonstrate compliance, affecting licensing requirements, data sharing protocols, and anti-money laundering frameworks for exchanges and other virtual asset entities. Failure to implement these standards can lead to severe penalties and reputational damage for non-compliant nations.
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