Cryptocurrency Regulation Continues To Plough Forward During The Crypto Winter – Mondaq

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Whilst cryptocurrency is in the midst of winter, governments and regulators across the globe have continued to plough along to introduce further proposals for greater regulation of virtuals assets (VAs) and Virtual Asset Service Providers (VASPs).
It is essential that crypto stakeholders stay ahead of latest developments and maintain up to date compliance frameworks to implement changes in regulatory requirements enabling timely updating of systems and controls to reduce the likelihood of breaches of regulations.
Ropes & Gray's handy alert provides a concise summary of some of the latest updates in relation to anti-money laundering/counter-terrorist financing (AML/CTF) and sanctions regulations, from:
As expected, this year has seen significant activity from governments and regulatory bodies seeking to monitor VAs and VASPs, and ensure adequate implementation of AML/CTF and sanctions standards. Stakeholders in the cryptoasset industry should evaluate where regulations are anticipated and proactively put in place compliance controls to lessen the likelihood of involvement in money laundering or sanctions breaches.…
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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