Regulation on cryptocurrency / virtual assets/ digital assets
Key takeaways: The new law regulates the issuance and trading of digital assets and digital asset service providers (DASPs). National Bank of Serbia (NBS) and the country’s Securities Commission (SEC) will play the supervisory role. DASPs are required to apply for a license with minimum capital requirements. The law will »
Scorechain releases the latest Guide to help crypto businesses in Singapore to comply with AML/CTF regulations by implementing the risk-based approach on transaction monitoring. Download the FREE Guide here: https://scorechain.com/Singapore-MAS-Virtual-Assets-Red-Flags Cryptocurrencies and digital assets have raised concerns from worldwide regulators. With increasing usage and business opportunities, regulators have started to »
Key takeaways: The Philippines Central Bank has issued on Jan. 25 2021 new guidelines for the crypto industry to prevent money laundering The guidelines expand the current virtual currency exchange (VCE) regulations to new crypto-related activities. It will come into effect 15 days after being published in the Official Gazette. »
If you are a US person holding assets worth more than $10,000 (including cryptocurrencies) overseas, you may be concerned with this topic. If you are a US bank or money service business dealing with cryptocurrencies, you may be concerned as well. Key takeaways: In a recent notice, FinCEN proposed to »
Last month, FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) issued a guidance on ML (Money-Laundering) and TF (terrorist financing) indicators related to virtual currency transactions. Key takeaways: It applies to all entities subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Reporting entities should »
En France, le statut des PSAN a changé. De nouveaux services sont soumis à l’enregistrement obligatoire et les règles KYC à suivre sont désormais plus strictes. Téléchargez notre guide afin d’être à jour et de prendre les mesures appropriées si nécessaire : https://scorechain.com/AMF-PSAN-license-guide Le développement du marché des crypto-monnaies amène »
When does 6AMLD come into force? AMLD 6 must be transposed today December 3rd 2020. AMLD6 replaces AMLD5 [1]. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with 6AMLD by 3 December 2020. What are the key takeaways? First, the AMLD6 provides a »
Le développement du marché des crypto-monnaies amène les entreprises à développer des services autour de ces actifs numériques pour satisfaire les besoins des investisseurs et consommateurs. De fait, les régulateurs du monde entier cherchent désormais à garantir un cadre légal afin de protéger les investisseurs et d’empêcher la fraude, le »
Last week, Hong Kong’s Securities and Futures Commission (SFC) stated in the Fintech Week that all cryptocurrency trading platforms operating in HK, or targeting HK investors, will be required to be regulated, even if they don’t trade securities. This is a step further to the opt-in approach of last November »
The New Swiss Blockchain DLT Laws have been approved by the Swiss Parliament on 25 September 2020. Finalised last week, laws are expected to come into effect in early 2021: What is important to know? A specific category of tokenised rights named “Uncertificated Register Securities” regarding security token issuers; A »
