The Financial Action Task Force (FATF), a global anti money laundering organization, recently released its sixth updated report on anti money laundering and counter-terrorism financing measures for virtual assets (VA) and virtual asset service providers (VASP). The report points out that although progress has been made globally in relevant legislation and regulation, the licensing, registration, and identification and regulation of offshore VASP risks still face challenges. The report also revealed that North Korean hackers stole $1.46 billion from ByBit this year, only recovering 3.8%, highlighting the urgency of asset recovery and international cooperation. In addition, the amount of illegal transactions related to fraud on the chain reached 51 billion US dollars in 2024. FATF calls for strengthened global regulatory cooperation to prevent virtual assets from being abused by criminals and threatening the security of the international financial system.
