From time to time, the FIAU carries out consultation exercises to obtain feedback on proposed laws and amendments, implementing procedures and other guidance notes. Constructive feedback from the various sectors is encouraged since this ensures that the challenges and practical realities of the different sectors are reflected in the various instruments and guidance documents.

Consultation on FATF Recommendation 16 to the Virtual Financial Assets Sector

On the 27th August, 2020, the FIAU issued a Consultation Document setting out a proposal for subsidiary legislation providing for the application of FATF Recommendation 16, more commonly referred to as the ‘Travel Rule’, to transfers of virtual financial assets.  While usually applicable within the more traditional sphere of transfer of funds, the FATF has revised the said recommendation and extended its scope so as to also cover transfers of virtual financial assets. The document may be accessed by clicking the button below.


The consultation process runs until Friday, 18 September, 2020 and interested parties can submit any feedback via email on [email protected] .  

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