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>>FATF issues warning that cryptocurrency misuse contributes to illicit financial activities, urging countries to implement new countermeasures.

FATF issues warning that cryptocurrency misuse contributes to illicit financial activities, urging countries to implement new countermeasures.

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about 9 hours ago

Crypto Oversight Developments

The Financial Action Task Force (FATF) has endorsed updated digital asset risk assessments, maintaining Iran’s designation on its blacklist while intensifying examination of stablecoins and offshore service providers. These measures aim to address vulnerabilities in the crypto sector that facilitate illicit financial activities.

Global Regulatory Pressure

FATF’s actions underscore growing international demands for stricter financial safeguards, compelling jurisdictions to enhance monitoring of crypto transactions. The focus on stablecoins and offshore entities highlights concerns over unregulated flows and potential misuse of digital assets for illegal purposes.