Category: Regulation

Europe’s anti-money laundering body set to be fully operational in 2028

Money Laundering, Regulation
BRUSSELS, Feb 4 (Reuters) – The European Union’s new agency formed to fight dirty money said on Wednesday it was on track to be fully operational in 2028, as it set out its plan to tackle emerging illicit finance risks including crypto and “novel payment channels”.The Anti-Money Laundering Authority (AMLA) is being established in Frankfurt, creating the first Europe-wide body to fight illegal financial flows.Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.From 2028, AMLA will directly supervise 40 EU financial institutions judged to present the biggest risk. AMLA…

Chinese Crypto Scam Fugitive With St. Kitts Passport Owns Dubai Property

Money Laundering, Regulation
Daren Li, who has fled a 20-year sentence for for his alleged role in stealing and laundering $73 million in Cambodia-based cryptocurrency scams, rents out a villa in Dubai Daren Li, a Chinese and Saint Kitts and Nevis national on the run from a 20-year United States prison sentence for his role in a large Cambodia-based cryptocurrency scam operation owns property in Dubai, real estate records show. Tenancy contract data shows that under his Saint Kitts passport, Li owns a five bedroom residential villa in Wadi Al Safa 7, a gated community in Dubai’s suburbs. As of last year, this…

AMLA Lays Out Its 2026–2028 Game Plan as Europe’s New AML Regulator Moves Toward Full Operations

Regulation
Key Takeaways AMLA Moves From Setup to Delivery: The 2026–2028 Single Programming Document marks AMLA’s transition from institutional build-out to operational supervision at EU level.Three Pillars Will Shape EU AML Oversight: AMLA’s priorities center on completing the Single Rulebook, driving supervisory convergence, and strengthening cooperation among Financial Intelligence Units.2026 Is the Inflection Point: The Authority will focus on turning mandates into practice through direct supervision, FIU framework implementation, and the foundations for indirect oversight.Early Signals for the Market: By prioritising clarity on areas such as customer due diligence and supervisory consistency, the SPD gives firms advance notice of where expectations…

As AMLA Takes Shape, ECB Signals a New Era of Coordinated Financial Crime Supervision

Regulation
Key Takeaways AMLA Centralizes AML Supervision: The new EU authority will reduce national fragmentation and assume direct oversight of higher-risk institutions from 2028.Financial Crime Is a Prudential Risk: Weak AML controls can expose banks to governance, operational, legal and reputational risks that threaten safety and soundness.ECB and AMLA Formalize Cooperation: A 2025 Memorandum of Understanding sets the framework for information exchange, policy coordination and supervisory alignment.Digitalization Raises Both Risk and Opportunity: Cyber-enabled fraud and crypto-asset activity heighten exposure, while artificial intelligence offers enhanced detection tools.Implementation Is the Next Test: The effectiveness of Europe’s new AML architecture will depend on coordinated,…

Solicitors Regulatory Authority: 62 Percent of Law Firms Only Partially Compliant or Non-Compliant with Money Laundering Regulations

Regulation
The United Kingdom Money Laundering Regulations, enacted in 2017, established a wide range of specific legal obligations on United Kingdom businesses of all types to guard against those businesses being used as conduits for money laundering and terrorist financing (MLTF). Those obligations include: Customer due diligence (CDD) measures (ie, ‘taking steps to identify your customers and checking they are who they say they are’), including CDD in establishing a new business relationship (eg, obtaining information on the source and origin of funds that the customer will be using in the relationship).Updating risk assessments on customers if their circumstances change.Establishing and…

U.S. Treasury Eyes New Power to Steer Anti-Money-Laundering Enforcement

Money Laundering, Regulation
Key TakeawaysFinCEN’s Gatekeeper Role: A Treasury draft proposal would position FinCEN as the central decision-maker on AML enforcement actions taken by other regulators.WSJ First to Report: The Wall Street Journal initially reported the proposal being circulated among federal banking regulators.Focus on Effectiveness: The plan aims to prioritize actionable intelligence over technical compliance errors that banks argue are costly and unproductive.Deregulatory Shift: Treasury Secretary Scott Bessent views current AML oversight as inhibiting economic growth while failing to stop major laundering activity.Deep DiveThe Treasury Department is positioning itself to take a more commanding role in how the U.S. fights illicit finance, with…

‘Simplified’ AML rules will streamline EU data-sharing, ‘Compliance Council’ hears

Regulation
SIMPLIFYING AML rules across the EU will help institutions to share data to combat financial crime, according to a senior European Commission figure. Claude Bocqueraz is Deputy Head of the Financial Crime Unit at the European Commission’s DG-FISMA, said the move will be spearheaded by AMLA, the EU’s new Anti-Money Laundering Authority. “For years, one of the biggest bottlenecks in the AML system has been the difficulty of exchanging data and information,” she said. [The] new EU AML package has taken significant steps to enhance cooperation and information sharing at all levels. [It] introduces a legal basis for public private…

Risk assessment processes and controls in firms: our findings

Law, Regulation & Guidance, Regulation
We share findings and highlight good and poor practice to help firms reflect on how they are meeting the existing risk assessment requirements. In 2025, we carried out a multi-firm review focusing on business-wide risk assessment (BWRA) and customer risk assessment (CRA) processes. Our key findings centre around how firms: Identify, understand and assess risk.Appropriately mitigate risk.Effectively manage risk.This review is part of our wider financial crime supervisory work in support of our 2025–30 strategy. Who this applies toFirms.Money Laundering Reporting Officers (MLROs).Senior Managers with oversight.Industry practitioners working in financial crime prevention roles and responsible for assessing risk and setting…

Financial crime oversight in corporate finance firms shows gaps, says FCA

Regulation
Corporate finance firms help businesses raise money by connecting them with investors or lenders and are vital to the growth and success of the UK economy – making effective financial crime controls essential. 11% of responding firms reported having no documented business-wide risk assessment, which is a requirement under the Money Laundering Regulations. Without a business-wide risk assessment, firms are leaving themselves and the wider market vulnerable to money laundering, fraud and other forms of financial crime. Other findings from the survey that highlighted areas for improvement included: 10% of firms stated they did not retain documented evidence of customer…

Government’s decision on reforming anti-money laundering and counter-terrorism financing supervision

FCA, Money Laundering, Regulation
Responding to the Government’s decisionLink is external on reforming anti-money laundering and counter-terrorism financing supervision, Steve Smart, joint executive director of enforcement and market oversight at the FCA, said: ‘We recognise the benefits of an improved regime for anti-money laundering supervision. These changes will simplify the supervision of professional services, ensure more consistent oversight and help us identify and disrupt crime. ‘The FCA will work closely with the Government, the Office for Professional Body Anti-Money Laundering Supervision (OPBAS), Professional Body Supervisors, HMRC, the firms we will be supervising and others, as we work together to equip the UK to better…

Varengold Bank AG: BaFin orders comprehensive remediation of shortcomings and imposes administrative fine

Regulation
The Federal Financial Supervisory Authority (BaFin) has identified serious shortcomings at Varengold Bank AG in the prevention of money laundering and terrorist financing. BaFin has therefore ordered the institution to take appropriate and suitable measures to remedy these shortcomings. In addition, BaFin has imposed on Varengold Bank AG an administrative fine of EUR 3.3 million and a coercive fine of EUR 500,000. In the special inspection conducted in 2022 and in the annual audits for 2022 and 2023, Varengold Bank AG was found to have serious shortcomings in the prevention of money laundering, in particular in the execution of transactions…

Showing financial crime the red card

Regulation
Speech by Steve Smart, joint executive director of enforcement and market oversight, at the 1LoD Financial Crime Summit. It’s great to be here to help kick off this year’s Financial Crime Summit. This is actually my second ‘kick off’ of the week – I was lucky enough to be at the Serbia-England game on Tuesday. On the terraces rather than on the pitch – I’m still waiting patiently for my call-up to the squad – but in the meantime, I take every chance I get to catch a match. There’s nothing like being in the stands – the high stakes,…

EU Strengthens Financial Crime Fight with Updated High-Risk Country List

Regulation
The European Commission is once again raising the stakes in the fight against financial crime by updating its list of high-risk countries. These jurisdictions, which exhibit significant gaps in their anti-money laundering (AML) and countering the financing of terrorism (CFT) frameworks, will now face increased scrutiny from EU financial institutions. In short, EU entities dealing with these countries will need to tread carefully, applying enhanced vigilance when engaging in financial transactions. The goal is simple: keep the EU’s financial system secure and ensure it doesn’t become a conduit for illicit activity. A closer look at the newly added names on…

EU Cuts UAE From Money Watchlist, Flags Monaco

Regulation
Two days after the European Commission overhauled its list of high-risk countries for money laundering, removing the United Arab Emirates (UAE) while adding several others, including Monaco, Lebanon, and Venezuela, a Member of the European Parliament said that the Parliament will examine the commission’s decision. “The members of the ECON committee will now engage with the Commission to clarify the evidence underlying the decisions for listing and de-listing of individual countries,” Markus Ferber, a German MEP with the European People’s Party (EPP) told OCCRP commenting on the updated list. “At this stage, it is too early to give a clear…

New Corporate Enforcement Policies Focus on Transparency & Cooperation in White-Collar Crime Cases

Regulation
At the 2025 SIFMA Anti-Money Laundering and Financial Crimes Conference in Washington, D.C., Matthew R. Galeotti, the head of the U.S. Department of Justice’s Criminal Division, unveiled significant changes to the Department’s approach to white-collar crime enforcement. In his speech, Galeotti underscored a shift towards increased transparency and fairness for businesses, with an emphasis on self-reporting and cooperation in exchange for more predictable outcomes in investigations and penalties. The focus of these revisions, Galeotti explained, is to eliminate the punitive overreach that has historically deterred businesses from engaging in proactive compliance and reporting efforts. Highlighting the Department’s role in tackling…

“Unsubstantiated” suspicious transaction reports

Regulation
While financial institutions, on the one hand, are in the process of implementing and preparing to apply the fundamental amendments and changes that will take place in upcoming years by the EU AML Package—entering into force mainly in mid-2027—there are, on the other hand, signs of a relaxation of AML compliance requirements in the US. Meanwhile, the Federal Financial Services Authority (“BaFin”) published a remarkable sanctions decision in a case where a payment institution was penalized for failing to establish and maintain a proper business organization in the area of detection of suspicious transactions. BaFin, the German regulator, argued that…

MAS Proposes New Regulatory Framework to Open Private Market Investment Funds to Retail Investors

Regulation
Key Takeaways Wider Investment Choices: MAS is proposing a framework to allow retail investors to access private market investment funds, including private equity, private credit, and infrastructure.Two Fund Options: The proposal outlines two structures—Direct Funds for transparency into investments and Long-term Investment Fund-of-Funds (LIFF) for diversification and expert management.Consultation Process: MAS is seeking feedback on regulatory requirements and the types of assets suitable for retail investors.Future Potential: The proposal aims to create a sustainable and diversified market, with the potential for future listings of private market investment funds.Deep Dive The Monetary Authority of Singapore (MAS) is looking to broaden the…

FCA charges first individual with running a network of illegal crypto ATMs

Prosecutions, Regulation
The FCA has charged Mr Olumide Osunkoya, who is 45 and resides in London, for unlawfully running multiple crypto ATMs without FCA registration. Crypto ATMs are machines that allow you to buy or convert money into cryptoassets. Mr Osunkoya is accused of running crypto ATMs, which processed £2.6m in crypto transactions across multiple locations between 29 December 2021 and 8 September 2023 without the required registration. The charges mark the FCA’s first criminal prosecution relating to unregistered cryptoasset activity under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These are also the…

Banks must refund fraud up to £85,000 in five days

Fraud, Regulation
UK banks must refund fraud victims up to £85,000 within five days under new rules. Most High Street banks and payment companies voluntarily compensate customers who are tricked into sending money to scammers. But in a world first, these refunds will become mandatory from 7 October, the Payment Systems Regulator (PSR) has announced. The watchdog has reduced the maximum compensation from a previous proposal of £415,000. It said the new cap of £85,000 would cover more than 99% of claims. It also announced that once a bank or payment company had refunded a customer, it could claim half back from…

U.S. Financial Regulators Propose Sweeping Changes to Anti-Money Laundering Rules

Money Laundering, Regulation
On July 19, 2024, a coalition of U.S. financial regulators unveiled a comprehensive proposal to overhaul anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations for banks and other financial institutions. This joint initiative, led by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC), represents the most significant update to AML/CFT rules in decades. The proposal aims to modernize the…

The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets

Digital Currencies, Regulation
The European Banking Authority (EBA) issued today new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes. The Guidelines specify which information should accompany a transfer of funds or crypto assets and also list the steps that payment service providers (PSPs), intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and intermediary CASPs (ICASPs) should take to detect missing or incomplete information, and what they should do if a transfer of funds or a transfer…

EU ushers in new anti-money laundering era

Money Laundering, Regulation
The EU is revolutionising its approach to money laundering and the financing of terrorism with the creation of a new bloc-wide body and a raft of new regulations. In a decisive move designed to beef up its defences against the ever-present scourge of , on Thursday (19 June) the European Union unveiled its comprehensive Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) legislative package. The package, which was formally adopted by the European Parliament in May, establishes a new EU Anti-Money Laundering Authority (AMLA) and introduces stricter regulations aimed at enhancing transparency and accountability across the financial system. The new…

FATF Ministers commit to stepping up efforts to fight money laundering, terrorist and proliferation financing

Regulation
Washington, D.C., 18 April 2024 – The Ministers of the Financial Action Task Force (FATF) reaffirmed their unwavering commitment to combat financial crime, and fully support the FATF as the global standard-setter for preventing and combatting money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction (AML/CFT/CPF). During this biennial meeting in Washington DC, members recognised the achievements of the Singapore Presidency under FATF President T. Raja Kumar. These included major steps taken to enhance the FATF Standards on asset recovery – improving jurisdictions’ toolkits to recover the proceeds of crime, and also to reinforce…

New EU rules to combat money-laundering adopted

Money Laundering, Regulation
Authorities, journalists, civil society organisations, to gain access to new registers, information sourcesEU limit on large cash payments up to EUR 10 000Due diligence rules to apply to football clubs and agents from 2029New EU Agency to directly oversee riskiest entities The European Parliament has adopted a package of laws strengthening the EU’s toolkit to fight money-laundering and terrorist financing. The new laws ensure that people with a legitimate interest, including journalists, media professionals, civil society organisations, competent authorities, and supervisory bodies, will have immediate, unfiltered, direct and free access to beneficial ownership information held in national registries and interconnected…

Bribery, fraud and anti-money laundering | UK Regulatory Outlook April 2024

Bribery, Regulation
Financial Conduct Authority 2024/2025 Business Plan The Financial Conduct Authority (FCA) has published its 2024/25 Business Plan, as a useful reminder of its objectives and areas of regulatory focus for the financial sector. Over the next year, the FCA will focus on reducing and preventing financial crime, prioritising the needs of consumers and strengthening the UK’s position in global wholesale markets. This follows its work update published in February 2024 (as reported in our previous Regulatory Outlook), which highlighted the need for firms to tackle fraud and ensure their systems keep up with the increasing sophistication of criminal groups.   For further information see our Insight.…

Improving the effectiveness of the UK Money Laundering Regulations

Money Laundering, Regulation
HM Treasury has published a consultation on improving the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the ‘MLRs’), which place requirements onto a range of businesses to identify and prevent money laundering and terrorist financing. HM Treasury committed to consulting on changes to the MLRs as part of a wider programme of work aimed at reducing money laundering, which was set out in the Economic Crime Plan 2023-26. This consultation principally covers issues with the MLRs already identified by HM Treasury, for example in the 2022 Review of the UK’s…

Bribery, fraud and anti-money laundering | UK Regulatory Outlook February 2024

Bribery, Corruption, Regulation
The Environment Agency has established a new Economic Crime Unit to combat money laundering and conduct financial investigations in the waste sector, made up of accredited financial investigators and financial intelligence officers and financial crime analysts. The unit comprises two teams: the Asset Denial Team, focusing on account freezing orders, cash seizures, pre-charge restraints and confiscations; and the Money Laundering Investigations team, responsible for conducting money laundering investigations targeting environmental offences. Businesses within the waste sector should ensure they are adhering to proper financial practices and reporting any suspicious activities. It is crucial that should the Economic Crime Unit launch…

UK art market feeling the heat as anti-money laundering legislation ramped up

Art Market, Regulation
HMRC has been issuing more regular fines and putting into force intensive checks, making art-related businesses sweatRiah Pryor19 February 2024ShareUnder the AML broiler: HMRC fined at least 31 UK art market participants from January 2021 to March 2023 © M4OS Photos/Alamy Stock PhotoUnder the AML broiler: HMRC fined at least 31 UK art market participants from January 2021 to March 2023© M4OS Photos/Alamy Stock Photo The British art market is under mounting pressure from anti-money laundering (AML) legislation. HMRC, the UK’s tax authority, fined at least 31 art market participants from 10 January 2021, when it began supervising the art…

Frankfurt Chosen as Host for EU Anti-Money Laundering Authority

Money Laundering, Regulation
Frankfurt has been selected as the headquarters for the European Union’s Anti-Money Laundering and Countering the Financing of Terrorism Authority (AMLA). The decision was made through a joint vote on Thursday by Members of the European Parliament (MEPs) and EU ambassadors. Out of nine candidate cities that applied to host AMLA and presented their cases in public hearings, Frankfurt emerged victorious in the first round of voting, securing a majority of validly cast votes. The co-rapporteurs for AMLA, Emil Radev of the European People’s Party (EPP) from Bulgaria and Eva Maria Poptcheva of Renew from Spain, expressed their confidence in…

Lloyds to face AML controls investigation

Money Laundering, Regulation
The Financial Conduct Authority (FCA) of the UK has initiated an investigation into Lloyds Banking Group’s Anti-Money Laundering (AML) controls. As detailed in the lender’s annual report, Lloyds underlined that the investigation is related to its compliance with the money laundering regulations in the UK and the Financial Conduct Authority’s rules and principles of business, focusing on its controls framework. The report mentions that the bank has been cooperating with the investigation and cannot estimate the potential financial impact or if there would be any. At the time of the announcement, Lloyds declined to comment on the matter. The Financial…

PEP Guidance Reflecting Recent UK Regulatory Changes

Regulation
In December 2023, the UK government announced changes to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLRs”) in relation to the treatment of Politically Exposed Persons (“PEPs”) entrusted with prominent public functions in the UK (“domestic PEPs”). These changes came into force on 10 January 2024. The update means that under the MLRs, when dealing with domestic PEPs (or a family member or known close associate of a domestic PEP) the starting point for banks and other regulated firms is to treat them as inherently lower risk than non-domestic PEPs. This means…

Anti-money laundering: Council and Parliament strike deal on stricter rules

Money Laundering, Regulation
The Council and Parliament found a provisional agreement on parts of the anti-money laundering package that aims to protect EU citizens and the EU’s financial system against money laundering and terrorist financing. Vincent Van Peteghem Belgian Minister of FinanceThis agreement is part and parcel of the EU’s new anti-money laundering system. It will improve the way national systems against money laundering and terrorist financing are organised and work together. This will ensure that fraudsters, organised crime and terrorists will have no space left for legitimising their proceeds through the financial system. Vincent Van Peteghem Belgian Minister of FinanceWith the new…

EBA issues guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks

Digital Currencies, Regulation
The European Banking Authority (EBA) today extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to crypto-asset service providers (CASPs). The new Guidelines highlight ML/TF risk factors and mitigating measures that CASPs need to consider, representing an important step forward in the EU’s fight against financial crime. CASPs can be abused for financial crime purposes, including ML and TF. The risks of this happening can be increased, for example because of the speed of crypto-asset transfers or because some products contain features that hide the user’s identity. Therefore, it is important that CASPs know about these…

UK economic crime regime

Regulation
This guide to the UK economic crime regime sets out information on the relevant legislation impacting solicitors and firms. Money Laundering Regulations 2017The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) set out the main anti-money laundering (AML) requirements for firms. This legislation has been amended by the: Money Laundering and Terrorist Financing (Amendment) Regulations 2019, which came into force on 10 January 2020 and implemented broad changes to the MLRsMoney Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020, which made narrow changes mainly to the requirements around trust registrationThe Money Laundering and Terrorist…

Financial services regulation: Adapting to change

Regulation
The Financial Conduct Authority (FCA) is making significant changes in response to its new responsibilities and past regulatory failures, but it needs to manage the related risks if it’s to meet its commitments, including reducing and preventing financial crime, according to a new report by the National Audit Office (NAO). The FCA regulates approximately 50,000 firms in an industry worth more than £170 billion to the UK economy. The financial services sector is undergoing significant changes; the FCA began a transformation programme in 2020-21 in response to these changes and this will take a number of years to realise. Reshaping…

Council and Parliament reach political agreement to criminalise violation of EU sanctions

Regulation, Sanctions
The Spanish presidency of the Council and the European Parliament concluded their negotiations for an EU law which introduces criminal offences and penalties for the violation of EU sanctions. This directive ensures that those who violate or circumvent EU sanctions will be prosecuted. This gains particular importance in the context of the Russian war of aggression against Ukraine. The law lays down that member states will need to define certain actions as criminal offences. These include: helping persons subject to EU restrictive measures to bypass a travel bantrading sanctioned goods and running transactions with states or entities which are hit…

Bipartisan Anti-Crypto Terror Financing Bill Heads to U.S. Senate

Counter Terrorist Financing, Regulation
A bipartisan group of U.S. senators including Mitt Romney (R-UT) introduced legislation that expands sanctions to foreign entities supporting all U.S.-designated terrorist groups, including through crypto transactions, giving law enforcement an additional toolkit to tackle terror financing.“The Terrorist Financing Prevention Act of 2023, introduced by the Senators, aims to prevent Foreign Terrorist Organizations and their financial enablers, including those using digital assets, from accessing U.S. financial institutions, imposing sanctions and strict regulations to counteract these activities,” the bill reads.The proposed act broadens current sanctions, initially focused on Hezbollah, to include all U.S.-designated foreign terrorist organizations and their supporting foreign entities.…

Landmark Agreement: EU Nears Establishment of Robust Anti-Money Laundering Authority

Regulation
In a historic move, the European Union’s Council and Parliament have provisionally agreed to forge ahead with the creation of a groundbreaking European authority focused on combating money laundering and the financing of terrorism – the Anti-Money Laundering Authority (AMLA). This breakthrough represents a cornerstone in the broader anti-money laundering package, designed to fortify the EU’s financial system and protect the interests of its citizens. Under the terms of the provisional agreement, AMLA is set to wield both direct and indirect supervisory powers over high-risk entities within the financial sector. Notably, the agreement leaves the question of the authority’s seat…

US Regulators Agree to Ramp Up Oversight of Systemically Risky Non-Banks

Regulation
In a significant policy shift, U.S. regulators have cleared the path for an increased oversight of asset managers, hedge funds, and other non-bank financial institutions that are perceived to pose potential risks to the country’s financial system. This move marks the revival of a robust regulatory framework that had been sidelined during the previous administration of President Donald Trump. The Financial Stability Oversight Council (FSOC), led by the Treasury Department and composed of other major federal agencies, has also introduced a new framework aimed at identifying impending risks within the financial system. This decision is an integral part of the…

ADGM introduces the worlds first DLT Foundations Regime

Digital Currencies, Regulation
The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) officially released the Distributed Ledger Technology (DLT) Foundations Regulations 2023, marking a significant milestone in the evolution of digital assets regulatory frameworks across the region and at an international level. This newly implemented legislative structure is designed to provide a comprehensive framework for DLT Foundations and Decentralised Autonomous Organisations (DAOs), enabling them to operate and issue tokens recognising the unique needs of the Blockchain industry. This new regime comes in line with ADGM’s strategy to foster initiatives in the broader blockchain and digital asset realm. By setting a global benchmark…