FATF notes that Saint Vincent and the Grenadines has advanced its virtual asset controls, while Recommendation 15 remains only partially compliant

The follow-up review assesses the jurisdiction’s technical progress against Recommendation 15, noting amendments to the virtual asset framework, including revised registration obligations for VASPs and strengthened requirements around risk assessments, customer due diligence, record-keeping, suspicious transaction reporting and sanctions compliance. Saint Vincent and the Grenadines remains partially compliant with Recommendation 15 because residual gaps remain, including in relation to VASP registration coverage, targeted financial sanctions implementation, supervisory powers and the proportionality of available sanctions.