APG VA/VASP Network meeting was held on May 11, 2023

Asia/Pacific Group on Money Laundering has established a VA/VASP network to improve implementation of the FATF Recommendation 15 on new technologies and regulatory framework of the virtual asset sector. The meeting was held on May 11, 2023 and over 35 representatives participated.

During the meeting, FATF Virtual Asset Contact Group has introduced about its recent developments as well as plans to continue engaging with the private sectors to implement travel rule and to provide outreach and technical assistance to other countries.

New Zealand has shared its supervision practices of VASPs and Canada has presented its investigation experience of VASPs. On behalf of Mongolia, Financial Regulatory Commission and FIU-Mongolia representatives have presented Mongolia’s risk assessment findings in the virtual asset sector.