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The Financial Action Task Force urged countries again to restrict cryptocurrency transactions involving Iran over risks including terrorist financing, while also calling on Vietnam to establish rules for virtual asset service providers.
In a statement on Oct. 30, the FATF said Iran still does not meet international standards related to countering terrorist financing and urged countries to restrict financial institutions and virtual asset service providers from entering Iran, block Iranian firms from setting up overseas branches, and prohibit new correspondent relationships. The FATF also decided to keep Iran designated as a high-risk jurisdiction.
On Vietnam, the FATF expressed strong concern over the slow pace of improvements to its anti-money laundering regime, including regulations for cryptocurrencies and virtual asset service providers. The FATF said Vietnam has yet to carry out an improvement plan it was supposed to complete by May 2025 and said it would consider follow-up measures if the country fails to show clear progress by February 2027.