Woofun AI reports that the Financial Action Task Force released its seventh targeted update on virtual asset standards, revealing that 83% of surveyed jurisdictions have established advanced cryptocurrency regulations and travel rule enforcement. The update notes that 11 jurisdictions are still developing these frameworks, while emphasizing the need for continued licensing and registration of virtual asset service providers to prevent illicit exploitation. The report also highlights regulatory difficulties concerning offshore entities and specific stablecoin abuse cases, including a money laundering operation in Cambodia involving freeze-resistant tokens.