FATF consultation paper 2021 industry response

The Financial Action Task Force (FATF) has recently published its long-awaited consultation for its draft updated guidance on the risk-based approach to virtual assets (VAs) and virtual asset service providers (VASPs). The revisions aim to address issues related to emerging business models and technologies in the crypto sector, such as decentralized finance (DeFi) and stablecoins. They also provide new updates and guidance related to peer-to-peer transactions, the Travel Rule, and other issues, which will have significant implications on the industry.

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Time: 4-5.45pm SGT

ACCESS, in conjunction with Simmons & Simmons, will be organising a virtual session to go through the key practical takeaways from this consult, and to seek feedback from the industry which will be collated and provided to FATF and MAS before the consultation deadline of 20 April 2021. ACCESS is also collaborating with other industry associations, including the Fintech Association of Hong Kong in addition to Global Digital Finance and IDAXA, for the purpose of this submission. You can also provide and send feedback directly to ACCESS (grace.chong@access.org.sg) which will be collated for the response.

This session will also include a panel with: Eventus Systems, which provides trade surveillance and market risk solutions for many leading digital assets firms, and travel rule solution providers Notabene and Sygna Bridge, who will also share their thoughts about the new development, and how these service providers are working with the industry and other partners to address these potential changes in the industry.

This webinar is co-hosted by Simmons & Simmons, ACCESS, Eventus Systems, Sygna Bridge and Notabene. Please note that ACCESS and/or Simmons & Simmons does is not affiliated with any service providers,  and this event is not sponsored by any party.

By accepting this invitation your contact details may be shared with Simmons & Simmons, ACCESS, Eventus Systems, Sygna Bridge, and Notabene. If you register, Simmons & Simmons, ACCESS, Eventus Systems and Notabene will use your registration information in compliance their own privacy notices. Click here for further information.