October 24, 2022
Financial Services Agency
Director for International AML/CFT Policy, International Affairs Office Elected New Co-Chair of the Virtual Assets Contact Group of FATF
The FATF (Financial Action Task Force) appointed USHIDA Ryosuke, Director for International AML/CFT Policy, International Affairs Office of Japan FSA, as new Co-Chair of the FATF Virtual Asset Contact Group (VACG) under the PDG (Policy Development Group).
HABUCHI Takahide, Assistant Commissioner, International Affairs Office of Japan FSA, who served as the first Co-Chair, resigned in September 2022, following his appointment as Co-Chair of the PDG, the VACG’s upper positioned standing committee.
(*1) FATF (Financial Action Task Force) is an intergovernmental body that promotes international coordination against money laundering, terrorist financing and proliferation financing. For details, please see the FATF’s website.
(*2) Following the adoption of the FATF Standards on virtual assets, the FATF established the Virtual Asset Contact Group (VACG) under the PDG in June 2019 to engage industry and monitor industry-led efforts to enhance compliance with the FATF Standards. Since then, as well as the engagement with the industry and the monitoring, the VACG has served as a hub for the promotion of implementation the FATF Standards and virtual asset-related discussions at the FATF, including two 12-Month Reviews, which summarize the current status and challenges of the implementation, and the Updated Guidance.
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