On June 30, 2023, South Korea's National Assembly achieved a significant milestone in cryptocurrency regulation as it passed the Virtual Asset User Protection Bill into law. The bill is a comprehensive piece of legislation that consolidates 19 crypto-related bills, with the primary goal of establishing regulations against unfair trading practices ...
The Central Bank of the United Arab Emirates (CBUAE) has announced new guidelines on anti-money laundering and counter-terrorism financing for financial institutions involved in transactions with virtual assets, including cryptocurrencies and non-fungible tokens (NFTs). The Guidance will assist LFIs’ understanding of risks and effective implementation of their statutory AML/CFT obligations, ...
Estonia's recent amendments to its anti-money laundering (AML) laws have resulted over 300 virtual asset service providers (VASPs) either ceasing operations or have their licenses revoked. The amended laws included the adoption of the Financial Action Task Force Travel Rule, which broadened the definition of VASPs, increased information reporting requirements, ...
