Could banning virtual assets be a breach of the doctrine of legitimate expectation?

Purpose This paper aims to examine the validity of a state’s prohibition on virtual assets in context its global commitment battle against money laundering. Design/methodology/approach was empirical legal research exploring how general lack expertise apply risk-based approach anti-money laundering strategies might have implications for invoking Financial Action Task Force (FATF) exclusion provisions asset regulation. Findings Invoking banning without meeting prerequisites may put financial system at risk and make jurisdiction’s obligations appear breached. Research limitations/implications Anti-money (AML) policymakers will take precautions avoid misuse liberties they enjoy under FATF clauses/provisions. Practical The results this study help ensure more informed decision-making status regulation assets. Originality/value helps ascertain limits privileges accorded states applying standards