Category: Compliance

The Qatar Financial Centre (QFC) has introduced new regulations for digital assets, effective from September 1, 2024. These regulations aim to establish a comprehensive framework for token-based activities within the QFC. QFC has defined a broad scope for the new regulations, focusing on permitted tokens and token services providers: QFC has defined clear rules for… Read more

Digital assets are increasingly important in modern society. They are used for an expanding variety of purposes — including as valuable things in themselves, as a means of payment, or to represent or be linked to other things or rights — and in growing volumes. Electronic signatures, cryptography, smart contracts, distributed ledgers and associated technology… Read more

The Securities and Commodities Authority (SCA) signed a cooperation agreement with Dubai’s Virtual Assets Regulatory Authority (VARA) to bolster the UAE’s position as a leading global hub for virtual assets, in alignment with the ‘The Principles of the 50’ and the government’s visionary aspirations to build the world’s best and most dynamic economy. “We strive… Read more

VARA License: The Dubai Virtual Assets Regulatory Authority (VARA) has established moderate and transparent compliance regulations for Virtual Asset Service Providers (VASPs) under Dubai VA Law (Law No. 4 of 2022). As of now, 13 VASPs have obtained licenses, and another 8 are in the application process. Disclosure Requirements: In terms of record-keeping and compliance… Read more

SFO/AMLO Licenses: The Hong Kong Securities and Futures Commission (SFC) has established strict and transparent compliance regulations for Virtual Asset Trading Platforms (VATPs). The licenses under the Securities and Futures Ordinance (Cap. 571) (SFO) and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (AMLO) are highly applicable to VATPs. Currently, two virtual asset trading… Read more

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https://www.trmlabs.com/post/bridging-the-digital-divide-financial-institutions-and-the-future-of-digital-asset-compliance?utm_campaign=Angela%20-%20Policy%20Evergreen&utm_source=linkedin&utm_medium=social&utm_content=ABA Over the last few years, banks have increasingly—if slowly—begun to engage with digital assets, recognizing the growing demand from consumers and the potential for innovation in financial services. This shift is marked by a series of strategic initiatives, including partnerships with crypto firms, launching digital asset custody services, and integrating block-chain technology into operations… Read more