UK widens digital asset money laundering rules to include NFTs
This week, the U.K. Treasury published a paper detailing proposed changes to ‘crypto’ supervision, expanding the FCA’s mandate and including NFTs in the bracket.
This week, the U.K. Treasury published a paper detailing proposed changes to ‘crypto’ supervision, expanding the FCA’s mandate and including NFTs in the bracket.
Kenya joins neighbors Tanzania and Sudan and regional heavyweights South Africa and Nigeria on the grey list, with digital assets among the FATF’s concerns.
Frankfurt beat bids from Madrid, Paris, Rome, and five other cities to host AMLA, a new 400-member agency whose anti-money laundering mandate will include digital assets.
A three-year license issued to virtual asset service providers (VASPs) in 2021 expires this year, and they have to renew it; South Korea’s FIU plans to use this opportunity to expel ‘unfit’ exchanges.
Rishi Sunak’s vision of the U.K. becoming a global hub for Bitcoin will likely come true, and the U.K. will be better off for the strict approach it has taken from the outset.
US Treasury plans to release its 2024 National Strategy for Combatting Terrorist and Other Illicit Finance, which will be based on the 2024 National Risk Assessments.
China is revamping its anti-money laundering (AML) framework, with digital assets among the key areas the government wants to tighten oversight to curb criminal exploitation.
The AML regulation is part of an increased effort to combat sanctions evasion, terrorist financing, and money laundering, which was given urgency in light of Hamas financing through digital assets.
The amended rules will apply to VASPs, banks, and designated non-financial businesses and professions while seeking to clarify the definition of digital assets and their use as a payment alternative.
To combat illicit digital asset use, the United Arab Emirates released new guidelines that would help strengthen the region's financial system integrity, with an emphasis on compliance and heightened vigilance.
Irina Dilkinska from Bulgaria pleaded guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering for OneCoin.
The lack of a dedicated legal regime for digital assets in Turkey has been cited by the Financial Action Task Force as the last remaining area of non-compliance for the country.