Policy Scoop with Aislinn Keely: Unpacking the FATF's guidance and its impact on the global crypto landscape

Episode 76 of Season 3 of The Scoop was recorded remotely with The Block’s reporter Aislinn Keely and Rick McDonell, Director of ACAMS & Former Executive Secretary of the FATF, Joseph Weinberg Co-Founder of Shyft, and David Carlisle, Director of Policy and Affairs at Elliptic.

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The crypto world has only just begun digesting the finalized crypto reporting requirements from the Financial Action Task Force, or FATF.

The years-long process began in the summer of 2019 when the FATF made public its initial version that called for what it dubbed virtual asset service providers, or VASPs, to undertake an unprecedented degree of information-sharing about their customers and the transactions they conduct. Since then, the guidance has gone through numerous iterations and accounted for emerging use cases like decentralized finance (DeFi) and non-fungible tokens (NFTs), to name a few. 

At the heart of this framework is the so-called travel rule, requiring businesses that facili