FATF

The report detailed Canada’s coordination across its government and its capacity to analyze and use financial intelligence, while noting a few areas for improvement.

G20 Finance Ministers commit to advancing digital asset regulations and enhancing compliance.

Our regular look at notable regulatory and compliance developments in the region.

2026 focus is on updated requirements (including CDD) with 2027 set as the deadline for comprehensive crypto authorization and structural regulation.

While urging vigilance, FinCEN cautioned that firms should avoid “wholesale or indiscriminate de-risking.”

A special taskforce will meet twice monthly and draw up opinions and plans to upgrade the Act on Reporting and Using Specified Financial Transaction Information.

The EU has traditionally taken a cautious approach to crypto and has strong regulations governing the digital assets industry.

US said to be “largely compliant” with a recommendation that countries have rules preventing criminals from hiding dirty money in shell companies.