The team at AnChain.AI is back from Paris—they were there for the FATF VACG (Virtual Assets Contact Group) Private Sector Consultation, an annual gathering of regulators and industry leaders to discuss the future of digital asset policy.
AnChain.AI was one of three blockchain analytics firms invited.
Here were their key takeaways:
Regulatory Compliance Lags: 75% of jurisdictions fail to meet FATF compliance recommendations; only one found largely compliant.
Travel Rule Challenges: Major VASPs and exchanges struggle with different standards and globally low adoption rates.
Smart Contract Risks: Most jurisdictions fail to assess vulnerabilities within DeFi smart contracts.
Pig Butchering & Ransomware on the Rise: Increasing prevalence of financial crime worldwide necessitates utilization of AI to cut through the high volume of cases
DeFi Regulation Lags Behind: Over half the advanced jurisdictions require licensing for DeFi as VASPs, yet 40% are still in the process of defining their approach.
Check out their full report here.