A Vanuatu policy consultant tells Cointelegraph the bill had been ready for a few years but had been delayed due to several cabinet changes.
Category: VASPs
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Enforcement of South Korean virtual assets law prescribed in decree
The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19.
Nigerian SEC announces new rules, compliance program for digital assets
While this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days from the circular date.
UK crypto industry publishes Travel Rule navigation guide
The Travel Rule requires crypto businesses to collect, verify and share information about digital asset transactions with another crypto company.
Central Bank of Brazil Aims to Finalize Crypto Regulations This Year
The Central Bank of Brazil outlined its crypto regulation calendar, defining a three-phase process for finalizing these tasks in 2024. The bank aims to consult market actors regarding VASPs, establish plans to regulate stablecoins and finalize the rules to welcome VASPs into the country later this year. Central Bank of Brazil to Finalize VASPs and […]Taiwan proposes tougher AML measures for crypto service providers
Taiwan’s Ministry of Justice proposed four amendments to the country’s AML regulations focused on cryptocurrency firms that plan to impose hefty penalties for noncompliance.
Turkish crypto bill: 5 things to know before it’s introduced
Turkey was expected to introduce crypto legislation in early 2024, but the local parliament is yet to report on the process.
Kenya Establishes Working Group to Draft Rules Governing Crypto Entities
The Kenyan government recently established a multi-agency technical working group tasked with developing a framework for regulating and monitoring the cryptocurrency industry. The group, which includes financial regulators such as the Central Bank of Kenya, is set to draft rules for controlling and monitoring Virtual Asset Service Providers (VASPs). FATF Grey Listing Threat The Kenyan […]Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground
Nigerian blockchain lobby group has said the government’s decision to block access to crypto trading like Binance, Kraken and Coinbase will not “help Nigeria build the much-needed trust and confidence in the financial system.” The advocacy group also said the Nigerian Communications Commission’s directive to telecommunication companies may not be consistent with the “norms of […]US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto
The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report warns that defi could threaten national security and calls for policymakers to increase oversight. […]Powered by WPeMatico