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Offshore Crypto Exchanges Create Oversight Gaps, FATF Says
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6 Articles
FATF report – Understanding and Mitigating the Risks of Off-shore VASPs
On 11 March 2026, the Financial Action Task Force (FATF) issued a report, Understanding and Mitigating the Risks of Off-shore Virtual Asset Service Providers.The FATF has issued this report so that parties may better understand the risks of off-shore Virtual Asset Service Providers (oVASPs) with a view to identifying good practices in mitigating these risks. The report also presents good practices to detect, license or register oVASPs, as well a…
Virtual Asset Companies Face Risks of Exploiting Regulatory Gaps, FATF Warns
The Financial Action Task Force has raised concerns regarding offshore virtual asset companies. According to a recent publication, the FATF explained how many virtual asset companies operate across borders while avoiding strict regulations. The report also highlights the financial crime risks connected to these companies and why governments are trying to control them. Source: fatf.org Virtual asset service providers, often referred to as VASPs,…
A new FATF report warns that crypto offshore platforms are creating oversight gaps that make it difficult to pursue money laundering, evasion of sanctions and other illicit finance in increasingly global markets. *** FATF states that VASP offshore take advantage of regulatory differences between jurisdictions.The lack of local legal presence complicates the detection and supervision of platforms that serve domestic users.The agency also warned a…
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