The Financial Action Task Force (FATF) has expressed concerns that not many nations have implemented the rules it had laid down to regulate the virtual digital assets sector. In a report issued by the FATF, the delay in deploying and adoption of these crypto-related rules is leaving room for criminal activities to take shape. The organisation has analysed 12 months of data to prepare a list of nations, detailing the rules adopted by each nation. “In February 2023, the FATF Plenary agreed on a roadmap to strengthen implementation of the FATF Standards on virtual assets and virtual asset service providers (VASPs). Many countries have yet to fully implement the FATF’s requirements on virtual assets and virtual asset service providers to prevent their misuse for illicit finance,” the organisation said in an official post. The Paris-based global financial watchdog has been trying to resolve issues tied to the misuse of crypto assets by criminals for money laundering or terror financing. Back in November 2022, the FATF had unofficially mandated countries to abide by its anti-money laundering …