The Securities and Commodities Authority (SCA) disclosed that all VASPs in the UAE must submit applications for licensing with the body following the approval of the Authority’s Board of Directors.
To safeguard investors, Canada enhances its regulatory control of VASPs, which includes restricting them from offering stablecoins to customers and segregating digital assets held for local clients.
Lawmakers in France voted for an amendment that gives VASPs more time to comply with European regulations, overturning a proposed aggressive approach.
The FAIS Ombud will consider and resolve complaints relating to digital assets, but only if they happened after October 19, when Bitcoin was legally recognized.
Under the latest regulations, VASPs are mandated to create a digital wallet management system, a framework for securing wallet keys, and develop a contingency plan in case of a system anomaly.
The Electronic Payment and Financial Services license will give Coins.ph the status of an order book exchange, showing buy and sell prices in real-time.
The central bank’s memo was directed to VASPs involved in the custody of digital assets "to ensure that customers' virtual assets are not being used for any business activities other than for safe keeping."
It appears that the FSC is making a U-turn and has announced that it will promote the use of digital currency and safeguard the interest of investors.
Revolut was the only firm on the FCA’s temporary registration regime and is now licensed to offer digital asset trading and custodial services in the U.K.
Gov. Gavin Newsom nixed the bill, which would have created a licensing regime for VASPs similar to New York’s BitLicense, calling for a more flexible approach.
The VARA rules cover all digital asset-related communications leveraging Dubai-based media sites, search platforms, and publishing channels that target customers within the Emirate.
The Philippine central bank is not closing its doors to developments in digital currency exchanges but remains cautious about the potential risks of using foreign VASPs and investing in digital assets.
