This corpus node tracks FATF Recommendation 16 (Wire Transfers) as extended to Virtual Asset Service Providers (VASPs) by the FATF October 2018 Public Statement + the June 2019 Interpretive Note + the 2024 Targeted Update on Virtual Assets + VASPs. Implementation status: 60+ jurisdictions have transposed R.16 for VASPs into national law / supervisory expectations as of 2024-2025; the Sunrise Problem persists as several major jurisdictions (or sub-national levels) are still working through transposition. Industry implementation infrastructure: IVMS101 data standard + multiple competing Travel Rule networks (TRP + TRUST + Sygna Bridge + Notabene + Sumsub + others) with imperfect interoperability. The 2024 FATF Targeted Update + ongoing R.16 reviews are emphasizing: (a) cross-jurisdictional interoperability + ending the Sunrise Problem; (b) DeFi + NFT case-by-case applicability; (c) stablecoin transfer Travel Rule application; (d) unhosted wallet risk-based measures; (e) sanctions screening enhancement + governance + training + independent testing as Mutual Evaluation priorities. EU TFR (Regulation (EU) 2023/1113) + MiCA (Regulation (EU) 2023/1114) + AMLR (Regulation (EU) 2024/1624) form the EU implementation stack. US implementation via FinCEN 31 CFR 1010.410(f) + state-level VASP licensing (NY DFS BitLicense + others). Status: REFERENCED - the FATF Interpretive Note to R.15 + R.16 + the 2024 Targeted Update are publicly available on fatf-gafi.org + the rebuild is grounded against the publicly-known Travel Rule + IVMS101 + industry-standard infrastructure.
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