Category: Compliance

Financial institutions, corporates and regulatory bodies seek efficient solutions to cope with the increasingly complex regulatory landscape. The SFA community has played a crucial role in driving the growth and adoption of RegTech solutions as the members of our community bring deep domain expertise and a comprehensive understanding of regulatory requirements. Below are the member… Read more

📝 Reporting Requirements for Digital Asset Brokers: Custodial brokers must report digital asset disposition to sellers and the U.S. Internal Revenue Service (IRS) using Form 1099-DA. 📜 Definition and Inclusion of Non-Custodial Actors: The IRS intends to issue further regulations for non-custodial actors, such as decentralized finance (DeFi) platforms. 💵 Stablecoin Reporting Requirements: Qualifying stablecoin… Read more

The report found that while some jurisdictions have made progress in implementing anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, global implementation is still lagging. Several countries have yet to take significant steps to regulate this area, and these countries need to urgently prioritize the full implementation of these standards. Based on 130 Financial Action… Read more

📜 The VASP Travel Rule, an extension of the Financial Action Task Force (FATF) Recommendation 16, mandates that Virtual Asset Service Providers (VASPs) collect and transmit sender and beneficiary information for transactions exceeding a certain threshold, typically $1,000 or its equivalent. This includes names, account numbers, physical addresses, and identification details, akin to traditional financial… Read more