FATF Recommendation 15 – New Technologies and Virtual Assets
- Issuing authority
- Financial Action Task Force (FATF)
- Effective date
- Recommendation 15 was extended to virtual assets in October 2018, with an Interpretive Note adopted in June 2019. FATF continues to monitor and update how the standard is implemented globally.
- Scope
- Global
Quick Summary
FATF Recommendation 15 sets the international AML/CFT standard for new technologies, virtual assets and Virtual Asset Service Providers (VASPs). It requires countries to identify and manage the financial crime risks associated with virtual assets, regulate and supervise VASPs, and ensure they are subject to appropriate AML/CFT obligations. It is also the foundation for the Travel Rule, which requires certain originator and beneficiary information to accompany virtual asset transfers.
Who does it apply to?
- Virtual Asset Service Providers (VASPs)
- Financial institutions dealing with virtual assets
- Regulators and supervisors
What it means
The Sixth Targeted Update, published in June 2025, found continued progress in countries regulating and supervising VASPs, but significant implementation gaps remained. Since then, FATF has gone further. In March 2026, FATF published a targeted report on stablecoins and unhosted wallets, highlighting growing illicit-finance risks associated particularly with P2P transactions involving unhosted wallets. FATF called for full implementation of Recommendation 15 and stronger risk-based controls around stablecoin arrangements. Then, on 16 July 2026, FATF published its Seventh Targeted Update. It found that countries have continued making progress, including with VASP licensing, Travel Rule implementation and supervision, but substantial gaps remain in effective supervision and enforcement. FATF also highlighted increasing risks involving stablecoins, P2P transactions through unhosted wallets, offshore VASPs and DeFi