Report ‘limited progress’, FATF urges countries to introduce travel rules laws According to Cointelegraph

The Financial Action Task Force (FATF) reports that 11 of the 98 responding jurisdictions have begun enforcing their standards on Combating the Financing of Terrorism, or CFT, and Anti-Money Laundering, or AML.

In an update released Thursday on “Implementation of the FATF Standards for Virtual Assets and Virtual Asset Service Providers,” the FATF report “the majority” of jurisdictions assessed by the organization’s Global Network as of June 2021 “still require major or moderate improvement” in AML/CFT compliance under the Travel Code. According to the FATF, countries moving towards implementing these requirements made “limited progress” in the last year, with 29 of the 98 jurisdictions responding to reports passing legislation related to the Travel Rule. schedule and 11 starts executing.