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FATF Issues Global Guidance on Virtual Asset Recovery

The Financial Action Task Force (global anti-money laundering watchdog) advises governments to treat virtual assets as a distinct asset class and enhance operational capacity with integrated analytics.

Summary

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Terms & Concepts
  • Financial Action Task Force (FATF): An intergovernmental body that sets international standards to combat money laundering, terrorist financing, and other threats to the financial system.
  • Virtual Assets: Digital representations of value, such as cryptocurrencies, that can be traded or transferred electronically.
  • Asset Recovery: The process of identifying, seizing, and returning assets acquired through unlawful activities.