What is FATF in Crypto Compliance?

The Financial Action Task Force (FATF) is the international body setting global AML and counter-terrorism financing standards. FATF introduced the VASP concept in 2019 and extended Recommendation 16 (the Travel Rule) to cover crypto transfers. Over 100 jurisdictions have adopted FATF's VASP framework, making it the primary driver of compliance obligations for crypto payment gateways worldwide.