UK to require NFT issuers to register with financial authority amid crypto regulation overhaul
The UK Treasury announced through a consultation on money laundering that businesses dealing with non-fungible tokens (NFTs) will be required to register with the Financial Conduct Authority (FCA), even as a new crypto-specific authorization regime is set to be introduced. It is important to know that the consultation aligns with the government’s efforts to refine […]
China prepares to introduce crypto AML laws by 2025
In a decisive move to strengthen its Anti-Money Laundering (AML) laws, China is set to include cryptocurrency-related transactions in its regulations. This development, marked as the first significant amendment since 2007, was deliberated in a recent State Council executive meeting chaired by Prime Minister Li Qiang on January 22. The initiative highlights China’s commitment to […]
UAE tightens grip on crypto with new AML rules
The United Arab Emirates has introduced updated Anti-Money Laundering (AML) and sanctions rules that specifically address digital assets. This development, spearheaded by the Financial Services Regulatory Authority (FSRA), marks a pivotal moment in the UAE’s approach to managing the evolving landscape of digital finance. With these revisions, the UAE aims to enhance its vigilance against […]
FSRA updates AML rules to safeguard UAE’s financial landscape
In a move aimed at bolstering its stance against money laundering, terrorism financing, and proliferation financing, the Financial Services Regulatory Authority (FSRA) of the United Arab Emirates (UAE) has announced significant updates to its Anti-Money Laundering (AML) and Sanctions Rules and Guidance, collectively known as the AML Rulebook. Strengthened measures against financial crimes The revisions […]
Cyprus declares war on crypto providers, unleashes heavy fines and jail time
Cyprus is taking significant steps to fortify its regulatory framework within the cryptocurrency sector. The country is set to implement rigorous penalties for cryptocurrency service providers (CSPs) that neglect to register with the appropriate authorities. These penalties, encompassing substantial fines reaching as high as €350,000 and the possibility of imprisonment for up to five years […]
Japan’s new crypto regulations, what you need to know before June 1st
The Japanese parliament has recently decided to implement stricter Anti-Money Laundering (AML) measures starting from June 1st. This move comes as a response to the international financial watchdog, the Financial Action Task Force (FATF), deeming Japan’s previous AML legislation insufficient. The aim is to align Japan’s legal framework with global cryptocurrency regulations. One of the […]
