Topic
Virtual Assets
140 published works
Shufti Pro Blog
Taiwan Initiates Industry Association to Regulate Cryptocurrency Sector
By Richard M.
Nine crypto exchange platforms formed a group to create an industry association to regulate Taiwan’s crypto sector and together safeguard the integrity of the virtual assets industry. Taiwan’s cryptocurrency sector…
Global Investigations & Compliance Review
VARA’s Strict Application of its Virtual Assets and Related Activities Regulations 2023
By Richard Gibbon, Malak Abbas
The United Arab Emirates (“UAE”) has long been at the forefront of embracing technological and financial innovation. For example, Dubai has emerged as a global hub for virtual assets (“VAs”)…
Shufti Pro Blog
Peru Set Rules For Virtual Assets Platforms Under Anti-Money Laundering Regime
By Richard M.
The Peruvian government ordered virtual assets service providers to report their activities to the Financial Intelligence Unit (FIU) to prevent the integrity of the national financial system and combat money…
Shufti Pro Blog
Hong Kong Authorities Warn Unregistered Virtual Assets Platforms May Face Large Fines and Imprisonment
By Richard M.
On August 7th, the Hong Kong Securities and Futures Commission (SFC) warned all platforms working on virtual assets about regulatory non-compliance and urged them to comply with regulations, enhance business…
Shufti Pro Blog
July 2023 Recap: Major Compliance Events and How AML Verification Can Help
By Richard M.
Anti-Money Laundering (AML) violations pose a substantial and concerning threat to the reliability of the financial industry. These violations include unlawful actions aimed at concealing the origin of illicit funds,…
King Stubb & Kasiva Insights
Navigating the Future of Virtual Digital Assets (VDAs): Implementing Effective Operating Procedures and Regulations
Introduction The crypto assets sector holds significant potential for the economy and employment. However, the existing legal framework falls short in addressing policy concerns and issues surrounding crypto assets. Therefore,…
Shufti Pro Blog
FATF Warns Many Countries Continue to Face Challenges in Meeting Virtual Asset Regulations
Approximately 75% of FATF member countries fail to adhere to or only partially comply with Recommendation 15, which concerns virtual asset service providers (VASPs). Virtual assets and virtual asset-based service…
The Blockchain Monitor
Crypto Firms Expand Offerings; FATF Publishes Virtual Assets Update; CFTC Continues Crypto Enforcement; Israeli Agency Seizes Hezbollah Crypto
By Robert A. Musiala, Joanna F. Wasick
In this issue: • Crypto Firms Expand Offerings in Stablecoins, Private Key Management• FATF Publishes Targeted Update on Virtual Assets• Nevada Financial Regulator Seeks to Place Crypto Custodian into Receivership•…
Global Regulation Tomorrow
Targeted update on implementation of the FATF standards on virtual assets and virtual asset service providers
On 27 June 2023, the Financial Action Task Force (FATF) published a report, Targeted update on implementation of the FATF standards on virtual assets and virtual asset service providers. In…
Shufti Pro Blog
FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance
The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for virtual assets. As a result, the upcoming report is expected to highlight risks and recommend…