In October 2018, the FATF updated its Recommendations to include financial activities involving virtual assets and virtual asset service providers (VASPs). The revised Recommendation 15 requires VASPs to be regulated to combat money laundering and terrorist financing. In June 2019, the FATF issued an Interpretive Note and Guidance to assist authorities and private entities in understanding and complying with these regulations. The Guidance highlights the importance of understanding the risks associated with virtual assets and emphasizes that VASPs have the same obligations as financial institutions in terms of AML/CFT compliance.