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UN Agency Recommends Criminalization of Unlicensed VASPs in Southeast Asia to Counter Cyber Fraud
8.10.2024
Some service providers are facilitating transactions for fraud outfits and high-risk gambling sites, the report said
Taiwan’s new AML laws put crypto firms on notice
3.10.2024
The Taiwanese FSC has released new Anti-Money Laundering laws that will completely replace its current regulations and require the full compliance of VASPs.
Uruguay Passes Cryptocurrency Law
3.10.2024
Proposed over two years ago, the law recognizes cryptocurrency as virtual assets in the country, establishing the Central Bank of Uruguay as the regulator and overseer of companies seeking to offer cryptocurrency services. The law positions Uruguay at the forefront of Latin American countries that...
Saudi Arabia Leads MENA in Crypto Growth for Second Year Running
26.9.2024
Saudi Arabia has emerged as the fastest-growing crypto economy in the Middle East and North Africa (MENA) region for the second consecutive year. Unlike other MENA countries, Saudi Arabia’s and Qatar’s crypto activity primarily stems from decentralized finance platforms. The majority...
Kosovo receives guidance from Council of Europe on crypto crime tracing
25.9.2024
Kosovo’s Financial Intelligence Unit partners with the Council of Europe to improve crypto crime tracing skills and strengthen regulations on digital currencies
Kosovo receives guidance from Council of Europe on crypto crime tracing
25.9.2024
Kosovo’s Financial Intelligence Unit partners with the Council of Europe to improve crypto crime tracing skills and strengthen regulations on digital currencies
Kosovo receives guidance from Council of Europe on crypto crime tracing
25.9.2024
Kosovo’s Financial Intelligence Unit partners with the Council of Europe to improve crypto crime tracing skills and strengthen regulations on digital currencies
UAE regulators to allow Dubai-licensed VASPs to service entire country
11.9.2024
The agreement between UAE regulators covers the mutual supervision of crypto providers, penalty imposition, information exchange and employee training.
Seychelles Approves Bill on Virtual Asset Regulation
20.8.2024
The Seychelles National Assembly has approved a draft bill to regulate virtual asset service providers (VASPs). The bill requires license-seeking VASPs to establish a substantial presence in Seychelles, such as having a resident director and an office with competent staff. The law aims to balance...
Bank of Ghana unveils draft rules for cryptocurrency exchanges
16.8.2024
The Bank of Ghana introduces draft guidelines to regulate digital assets, focusing on exchanges and consumer protection measures
Peru Issues VASP Regulation, Strengthens AML/TF Requirements
10.8.2024
The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid...
UAE Bank Launches VASP-Focused Accounts for Managing User Funds
1.8.2024
Commercial Bank of Dubai (CBD), a United Arab Emirates-based bank, has launched dedicated accounts for virtual asset service providers to manage client funds. CEO Bernd van Linder said the move aligns with CBD’s core banking services and supports the bank’s plans to foster the digital economy. VASP...
Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025
30.7.2024
According to Nagel Paulino, head of the Central Bank’s regulatory department, the Central Bank of Brazil hopes to finalize cryptocurrency market regulations by 2025. The institution will conduct a second public consultation to finalize the drafts, hearing the opinions of market participants...
Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF
13.7.2024
Three-quarters of the jurisdictions surveyed by the Financial Action Task Force (FATF) “are only partially or not compliant” with the anti-money laundering recommendation for the virtual assets sector. According to the latest FATF update, 60% (88 jurisdictions) have decided to permit...
Nigerian SEC mandates local offices for crypto firms
4.7.2024
The requirement also states that applicants must report customer complaints and emergent risks and be subject to SEC inspections, audits, and monitoring
Enforcement of South Korean virtual assets law prescribed in decree
26.6.2024
The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19
Nigerian Regulator Amends VASPs Rules; Threatens Enforcement Against Noncompliant Entities
23.6.2024
The Nigerian securities regulator said on June 21 that it had amended the digital asset rules to expand their scope and introduced an accelerated process for onboarding virtual asset service providers. The Accelerated Regulatory Incubation Programme provides VASPs with insights into...
Nigerian SEC announces new rules, compliance program for digital assets
21.6.2024
While this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days from the circular date
UK crypto industry publishes Travel Rule navigation guide
6.6.2024
The Travel Rule requires crypto businesses to collect, verify and share information about digital asset transactions with another crypto company
Central Bank of Brazil Aims to Finalize Crypto Regulations This Year
21.5.2024
The Central Bank of Brazil outlined its crypto regulation calendar, defining a three-phase process for finalizing these tasks in 2024. The bank aims to consult market actors regarding VASPs, establish plans to regulate stablecoins and finalize the rules to welcome VASPs into the country later this...