Definition ∞ International AML Standards are globally recognized guidelines and regulations designed to prevent money laundering and terrorist financing across borders. These standards are developed by organizations like the Financial Action Task Force (FATF). They mandate financial institutions, including those dealing with digital assets, to implement robust customer due diligence and transaction monitoring. Adherence helps maintain the integrity of the global financial system.
Context ∞ The application of international AML standards to the virtual asset sector remains a significant area of focus for global regulators. News reports frequently detail how countries are adapting their national laws to align with FATF recommendations for crypto service providers. The ongoing challenge involves balancing effective enforcement with fostering innovation in the digital asset space.
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