Global Call to Action: Bridging Crypto Regulation Gaps

The Financial Action Task Force (FATF), a pivotal global watchdog, today issued a stern call for stricter regulatory measures against illicit finance activities in the realm of crypto assets. Highlighting the urgent need, the FATF warned that lapses in regional regulations have the potential to trigger worldwide financial disturbances.

Despite notable advancements in the regulation of virtual currencies since 2024, the FATF report reveals persistent challenges across several jurisdictions. Out of 138 jurisdictions reviewed as of April 2025, only 40 have met the standards set to be 'largely compliant', marking slight progress from the previous year.

Compounding the momentous concern, the FATF also pointed to the misuse of stablecoins by various illicit entities, an alarming trend corroborated by recent major crypto thefts, including North Korea's alleged involvement in a $1.5 billion heist. This report underscores a growing dialogue among global financial authorities on managing crypto-related risks.

(With inputs from agencies.)