On June 26, 2025, the Financial Action Task Force (FATF) urged greater global efforts to regulate crypto assets due to persistent risks. The FATF reported that only 40 out of 138 jurisdictions were largely compliant with its crypto standards as of April 2025. This highlights the need for more comprehensive regulatory frameworks to mitigate risks associated with virtual assets. (Source: Reuters, June 26, 2025)
The FATF noted that illicit crypto wallet addresses received $51 billion in 2024, with stablecoins increasingly used by criminals. In response, the U.S. Senate passed the GENIUS Act to regulate stablecoins, requiring backing by liquid assets and monthly disclosure. This bill now awaits approval in the House of Representatives. (Source: Reuters, June 17, 2025)
The European Commission is set to unveil new stablecoin regulations, disregarding ECB warnings. The guidance will classify stablecoins issued outside the EU as interchangeable with EU-approved versions. The FATF plans to release targeted papers on stablecoins, offshore crypto platforms, and DeFi by next summer. (Source: Financial Times)