Japan Financial Services Agency: Director For International AML/CFT Policy, International Affairs Office Elected New Co-chair Of The Virtual Assets Contact Group Of FATF
USHIDA Ryosuke, Director for International AML/CFT Policy, International Affairs Office of Japan FSA, has been appointed by the FATF (Financial Action Task Force) as the new Co-Chair of the PDG (Policy Development Group) Virtual Asset Contact Group (VACG).
Following his appointment as Co-Chair of the PDG, the VACG’s upper positioned standing committee, HABUCHI Takahide, Assistant Commissioner, International Affairs Office of Japan FSA, who served as the first Co-Chair, resigned in September 2022.
(1) The Financial Action Task Force (FATF) is an intergovernmental organization that encourages global cooperation in the fight against money laundering, terrorism financing, and proliferation financing.
(2) The FATF established the Virtual Asset Contact Group (VACG) under the PDG in June 2019 following the adoption of the FATF Standards on virtual assets in order to involve industry and monitor industry-led initiatives to improve compliance with the FATF Standards. Since then, in addition to the industry engagement and monitoring, the VACG has served as a focal point for the promotion of implementation of the FATF Standards and virtual asset-related discussions at the FATF. This includes two 12-Month Reviews, which summarize the current status and difficulties of the implementation, as well as the Updated Guidance.
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