An EU country may leave the FATF grey list this week. Does grey-listing actually hurt fintechs?
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The FATF plenary in Paris ends on 30 October. Bulgaria, Monaco and Côte d’Ivoire were reported in September as expected to come off the grey list. Bulgaria has been on it since October 2023. Grey-listing doesn’t cancel a single licence, and a Bulgarian EMI can still passport across the EU. The damage comes through banks: correspondent and safeguarding banks abroad apply enhanced due diligence, so payments slow down and some partners exit. An IMF study of 89 economies found listed countries recei
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