The Financial Action Task Force (FATF) has called for accelerated global enforcement of cryptocurrency standards to address cross-border risks. In a declaration issued on April 17, FATF ministers emphasized the need for jurisdictions to close regulatory gaps in digital asset markets, linking stronger anti-money laundering measures to faster action on virtual assets. The declaration highlighted the importance of responsible innovation in finance, noting that technology, including AI, can enhance compliance when properly safeguarded. FATF's Recommendation 15 remains the primary global standard for virtual assets and service providers, requiring countries to assess risks, apply a risk-based approach, and ensure proper licensing and supervision. The FATF's recent update revealed that only 29% of 138 assessed jurisdictions were largely compliant with these requirements. The organization also noted increased scrutiny on stablecoins and offshore firms, citing concerns over illicit finance risks and urging quicker implementation of existing standards to prevent exploitation of regulatory loopholes.