The Financial Services Regulatory Authority (FSRA) has <a href="https://www.adgm.com/media/announcements/adgm-fsra-announces-revisions-to-its-aml-and-sanctions-rules-and-guidance" class="ek-link" rel="noopener noreferrer nofollow">announced </a>today significant updates to its Anti-Money Laundering (AML) and Sanctions Rules and Guidance.
 The FSRA’s revisions in the AML Rulebook offer clearer guidelines in line with the UAE’s federal regulatory framework against money laundering, terrorism financing, and proliferation financing.
These updates emphasize compliance with targeted financial sanctions, notably refining provisions regarding wire transfers to explicitly assert the application of the FATF’s “Travel Rule” to Virtual Assets.
These amendments hold significance for all entities falling under the purview of the AML Rulebook, encompassing authorized firms within the financial services sector and Designated Non-Financial Businesses and Professions.
Among the detailed amendments, the revised document now explicitly defines digital assets as a recognized payment method. Notably, it states, “The payment for any part or all of the sale/purchase amount includes payment(s) using Virtual Assets.”
These updates mark a crucial step in aligning UAE’s financial regulatory landscape with the evolving landscape of digital assets, underscoring the authorities’ commitment to ensuring a robust and compliant financial ecosystem.
For more info, click <a href="https://adgmen.thomsonreuters.com/rulebook/21-december-2023-fsra-rules-anti-money-laundering-and-sanctions-rules-and-guidance" class="ek-link" rel="noopener noreferrer nofollow">here</a>.
The post <a rel="noopener noreferrer nofollow" href="https://www.unlock-bc.com/114684/adgm-fsra-revises-anti-money-laundering-rules-emphasizes-virtual-assets-compliance/">ADGM FSRA Revises Anti-Money Laundering Rules, Emphasizes Virtual Assets Compliance</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

ADGM FSRA Revises Anti-Money Laundering Rules, Emphasizes Virtual Assets Compliance

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Ďalšie články zverejnené 21. 12. 2023

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