Joint FATF/EAG FinTech and RegTech Forum, China

Publication details




Hangzhou, China, 5 September 2018 – The FATF held its third FinTech and RegTech Forum on 4 and 5 September 2018, hosted by China. The Vice-President of the FATF, Mr. Xiangmin Liu and the Eurasia Group (EAG) Chairperson, Ms. Jinghua Hao, both from China, jointly chaired the meeting.

Over 140 participants from the FinTech and RegTech sectors, financial institutions, and FATF members, associate members and observers attended the event.


Since 2016, the FATF has engaged a constructive dialogue with FinTech and RegTech sectors, in order to support innovation in financial services, while addressing the regulatory and supervisory challenges posed by emerging technologies.

As part of this ongoing dialogue, governments and private sector experts discussed important issues such as digital ID, distributed ledge technology, virtual currency. More broadly, they also discussed how technologies such as artificial intelligence can contribute to anti-money laundering and counter terrorist financing (AML/CFT) compliance, risk assesment and management.

Crypto Assets

Public and private sector participants discussed the landscape of regulatory approaches to virtual currency/crypto assets, and the risks associated with their use. Participants explored possible ways to clarify how the FATF standards apply to virtual currency providers and related businesses, a priority of the FATF Presidency.

Digital Identification

Participants discussed the challenges that both jurisdictions and the private sector experience when digital Identifications product and services are used to carry out customer due diligence as part of the on-boarding process. They discussed the approaches that different jurisdictions have taken to use digital ID products and services. Participants also explored the potential need for clarification of and/or change in the FATF Recommendations.

Distributed Ledger Technology

Participants explored different DLT identity and information solutions. They discussed their potential utility and their risks in the context of AML/CFT obligations. They also examined the technical and regulatory challenges associated with their adoption and use.