New FATF Draft Guidance & the Potential Threat Facing the De-Fi, NFT

The Financial Action Task Force (FATF), a global anti-money laundering watchdog, released draft guidance on March 19, 2021 that, if adopted, could pose a significant threat to certain areas of the crypto industry, including defi, the booming NFT space and stablecoins. FATF purports to offer clarification on what constitutes a Virtual Asset Service Provider, provides additional guidance on the “risks” related to peer-to-peer transactions, and provides additional guidance for the public on the implementation of the “travel rule”, among other things. Join Canada’s leading experts on cryptocurrency and anti-money laundering as they discuss how the draft guidance is out of touch with the realities of the defi and NFT space and why, if the guidance is adopted by governments, it could severely obstruct a transformative industry which has only just begun.