Regulatory Intelligence
AI-maintained daily updates on crypto regulations worldwide. Newest first — page 10 of 42.
Hold: Securely store this information Bank of Jamaica - Virtual Assets
Hold: Securely store this information Bank of Jamaica - Virtual Assets
Transmit: Forward this information to the beneficiary VASP (or make it available immediately and securely) before...
Transmit: Forward this information to the beneficiary VASP (or make it available immediately and securely) before or at the time of the transaction Bank of Jamaica - Virtual Assets
Verify: Ensure the accuracy of the information, particularly for transactions exceeding a certain threshold (e.g....
Verify: Ensure the accuracy of the information, particularly for transactions exceeding a certain threshold (e.g., USD/EUR 1,000). Note: The specific verification requirements for lower-value transactions should be confirmed with the BOJ's current guidance Bank of Jamaica - Virtual Assets
Imprisonment: For individuals found guilty of serious AML/CFT offenses under POCA Bank of Jamaica - Virtual Assets
Imprisonment: For individuals found guilty of serious AML/CFT offenses under POCA Bank of Jamaica - Virtual Assets
Revocation of Licenses/Registration: VASPs operating without proper registration or those found in significant br...
Revocation of Licenses/Registration: VASPs operating without proper registration or those found in significant breach of regulations may have their operating licenses revoked by the BOJ Bank of Jamaica - Virtual Assets
Reputational Damage: Significant negative impact on the VASP's business and its ability to operate within the reg...
Reputational Damage: Significant negative impact on the VASP's business and its ability to operate within the regulated financial system Bank of Jamaica - Virtual Assets
Bank of Jamaica - Virtual Assets
Bank of Jamaica - Virtual Assets
CBJ's General Prohibition: The CBJ has issued repeated official warnings and circulars prohibiting banks, payment...
CBJ's General Prohibition: The CBJ has issued repeated official warnings and circulars prohibiting banks, payment service providers, and individuals from dealing in or facilitating cryptocurrency transactions, including circulars in 2017 and 2021 that effectively act as a blanket ban CBJ Circular
This prohibition extends to all financial institutions under CBJ supervision, with non-compliance potentially resulti...
This prohibition extends to all financial institutions under CBJ supervision, with non-compliance potentially resulting in administrative penalties including fines and license revocation CBJ Enforcement
CBJ Penalties: Penalties for violating CBJ cryptocurrency prohibitions can include fines up to JOD 500,000 and po...
CBJ Penalties: Penalties for violating CBJ cryptocurrency prohibitions can include fines up to JOD 500,000 and potential criminal prosecution under Jordanian banking laws CBJ Penalties
The CBJ has publicly stated its interest in exploring Central Bank Digital Currencies (CBDCs) as part of Jordan's...
The CBJ has publicly stated its interest in exploring Central Bank Digital Currencies (CBDCs) as part of Jordan's financial modernization efforts IFC Jordan Assessment
Jordan's National Payment System Strategy includes assessment of digital currency infrastructure and potential CBDC i...
Jordan's National Payment System Strategy includes assessment of digital currency infrastructure and potential CBDC implementation World Bank
As of 2024-2025, the CBJ remains in the exploration stage without announced issuance timeline CBJ CBDC Updates
As of 2024-2025, the CBJ remains in the exploration stage without announced issuance timeline CBJ CBDC Updates
The CBJ's blanket prohibition creates a dual-layered regulatory environment where even crypto assets not classifi...
The CBJ's blanket prohibition creates a dual-layered regulatory environment where even crypto assets not classified as securities by the JSC remain effectively banned from the formal financial system CBJ Framework
Peer-to-peer crypto trading exists but operates in a legal gray area with enforcement risks CBJ Warnings
Peer-to-peer crypto trading exists but operates in a legal gray area with enforcement risks CBJ Warnings
Jordan has not implemented any sandbox or experimental framework for crypto businesses, unlike some regional peers JS...
Jordan has not implemented any sandbox or experimental framework for crypto businesses, unlike some regional peers JSC Innovation
Jordan Securities Commission (JSC): Primary regulator for securities and virtual asset classification, enforcemen...
Jordan Securities Commission (JSC): Primary regulator for securities and virtual asset classification, enforcement of securities laws JSC Official Website
Central Bank of Jordan (CBJ): Responsible for monetary policy, payment systems, financial stability, and cryptocu...
Central Bank of Jordan (CBJ): Responsible for monetary policy, payment systems, financial stability, and cryptocurrency prohibitions CBJ Official Website
World Bank - Jordan Financial Sector Assessment
World Bank - Jordan Financial Sector Assessment
The Central Bank of Jordan (CBJ) has issued repeated warnings and official statements prohibiting the use, trading, a...
The Central Bank of Jordan (CBJ) has issued repeated warnings and official statements prohibiting the use, trading, and promotion of cryptocurrencies in Jordan, considering them high-risk and unregulated CBJ Official Website
If an individual frequently trades cryptocurrencies in a manner that could be construed as a business activity, the p...
If an individual frequently trades cryptocurrencies in a manner that could be construed as a business activity, the profits could theoretically be subject to income tax under general principles; however, the CBJ's ban raises significant regulatory concerns ISTD General Guidelines
Income derived from any source in Jordan is generally subject to income tax under the Income Tax Law No. 34 of 2014...
Income derived from any source in Jordan is generally subject to income tax under the Income Tax Law No. 34 of 2014 (and subsequent amendments), which governs all income tax in Jordan ISTD Legislation Portal
Jordan applies a General Sales Tax (GST) to the supply of goods and services under the General Sales Tax Law No. 6 ...
Jordan applies a General Sales Tax (GST) to the supply of goods and services under the General Sales Tax Law No. 6 of 1994 (and subsequent amendments), which governs all sales tax in Jordan ISTD GST Legislation
If an individual or business were to engage in cryptocurrency activities and generate income, the question arises whe...
If an individual or business were to engage in cryptocurrency activities and generate income, the question arises whether this income should be reported. Given the CBJ's ban, openly reporting income from prohibited activities could create a complex legal situation for the taxpayer ISTD Legal Compliance
As of 2026, Jordan does not have any specific tax legislation pertaining to cryptocurrencies or virtual assets. T...
As of 2026, Jordan does not have any specific tax legislation pertaining to cryptocurrencies or virtual assets. The lack of such legislation is a direct consequence of the regulatory approach taken by the Central Bank of Jordan, which has opted for prohibition and caution rather than integration CBJ Regulatory Policy | ISTD Legislative Database
Central Bank of Jordan (CBJ) Official Website
Central Bank of Jordan (CBJ) Official Website
As a UN member state, Kyrgyzstan is legally obligated to implement all UN Security Council resolutions, including tar...
As a UN member state, Kyrgyzstan is legally obligated to implement all UN Security Council resolutions, including targeted financial sanctions against individuals and entities involved in terrorism financing and WMD proliferation. This obligation applies to all financial institutions, including VASPs operating in Kyrgyzstan UN Security Council Sanctions.
The UN Security Council Consolidated List is accessible at https://www.un.org/securitycouncil/sanctions/information a...
The UN Security Council Consolidated List is accessible at https://www.un.org/securitycouncil/sanctions/information and is updated regularly. VASPs must maintain systems to check against the latest version.
The Law of the Kyrgyz Republic "On Counteracting the Financing of Terrorist Activities and Legalization (Laundering...
The Law of the Kyrgyz Republic "On Counteracting the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds" is the cornerstone legislation. It defines "reporting entities" (including VASPs under evolving NBKR regulations) and mandates:
The National Bank of the Kyrgyz Republic (NBKR) has been developing digital asset regulations since 2021. Any ent...
The National Bank of the Kyrgyz Republic (NBKR) has been developing digital asset regulations since 2021. Any entity licensed by NBKR to operate with virtual assets will be subject to AML/CTF obligations NBKR Official Site.
The NBKR has issued regulatory guidance requiring VASPs to implement robust screening systems against national and in...
The NBKR has issued regulatory guidance requiring VASPs to implement robust screening systems against national and international sanctions lists NBKR Digital Assets.
VASPs must screen all clients, beneficial owners, and transaction counterparties against this national list as well a...
VASPs must screen all clients, beneficial owners, and transaction counterparties against this national list as well as international lists (UN, OFAC, EU) as best practice SSFI Sanctions Guidance.
While OFAC sanctions are primarily U.S. law, their extraterritorial reach can impact non-U.S. entities, including VAS...
While OFAC sanctions are primarily U.S. law, their extraterritorial reach can impact non-U.S. entities, including VASPs in Kyrgyzstan, under these conditions OFAC Sanctions Programs:
EU sanctions apply to EU persons/entities and transactions within the EU. Kyrgyzstan VASPs are affected if they have ...
EU sanctions apply to EU persons/entities and transactions within the EU. Kyrgyzstan VASPs are affected if they have clients, partners, or transactions involving EU persons/entities EU Sanctions Map.
Screening against the EU Consolidated List of persons, groups, and entities subject to EU financial sanctions is ...
Screening against the EU Consolidated List of persons, groups, and entities subject to EU financial sanctions is necessary EU Consolidated List.
The following penalties apply to violations of sanctions and AML/CTF obligations in Kyrgyzstan SSFI Enforcement:
The following penalties apply to violations of sanctions and AML/CTF obligations in Kyrgyzstan SSFI Enforcement:
The Criminal Code of the Kyrgyz Republic defines offenses related to money laundering, terrorist financing, and o...
The Criminal Code of the Kyrgyz Republic defines offenses related to money laundering, terrorist financing, and other financial crimes, providing the legal basis for criminal prosecution Kyrgyz Criminal Code.
Courts globally are increasing monetary sanctions for compliance failures. In April 2026, the New Jersey Law Journal ...
Courts globally are increasing monetary sanctions for compliance failures. In April 2026, the New Jersey Law Journal reported on sanctions against managing attorney Thomas Mott for briefing errors, highlighting that courts expect thorough inquiries Law.com Sanctions.
Huawei's significant comeback since U.S. sanctions were imposed (reported April 2026) demonstrates the real-world imp...
Huawei's significant comeback since U.S. sanctions were imposed (reported April 2026) demonstrates the real-world impact of sanctions regimes on global business CNBC Huawei.
Kyrgyzstan does not maintain independent sanctions lists specifically for crypto assets. Its enforcement relies on ad...
Kyrgyzstan does not maintain independent sanctions lists specifically for crypto assets. Its enforcement relies on adherence to international AML/CTF and UN sanctions frameworks, plus the SSFI national designated list SSFI National List.
UN Security Council Sanctions Information – Official UN page for sanctions regimes, consolidated lists, and member st...
UN Security Council Sanctions Information – Official UN page for sanctions regimes, consolidated lists, and member state obligations
National Bank of the Kyrgyz Republic (NBKR) – Central bank overseeing VASP licensing and digital asset regulation
National Bank of the Kyrgyz Republic (NBKR) – Central bank overseeing VASP licensing and digital asset regulation
OFAC SDN List – Specially Designated Nationals and Blocked Persons List
OFAC SDN List – Specially Designated Nationals and Blocked Persons List
EU Sanctions Map – Interactive overview of current EU sanctions regimes
EU Sanctions Map – Interactive overview of current EU sanctions regimes
EU Consolidated Sanctions List – Official EU list of sanctioned persons/groups
EU Consolidated Sanctions List – Official EU list of sanctioned persons/groups
Law.com: Miscommunication Leads to Sanctions – April 2026 case on briefing errors and sanctions
Law.com: Miscommunication Leads to Sanctions – April 2026 case on briefing errors and sanctions
Law.com: AI Hallucinations and Rising Sanctions – April 2026 article on judicial frustration with AI errors
Law.com: AI Hallucinations and Rising Sanctions – April 2026 article on judicial frustration with AI errors
CNBC: Huawei Comeback After Sanctions – April 2026 analysis of Huawei's sanctions impact
CNBC: Huawei Comeback After Sanctions – April 2026 analysis of Huawei's sanctions impact
Reiteration of the existing ban and public warnings: The National Bank of Cambodia (NBC), Securities and Exchange...
Reiteration of the existing ban and public warnings: The National Bank of Cambodia (NBC), Securities and Exchange Regulator of Cambodia (SERC), and General-Commissariat of National Police jointly issued a ban on cryptocurrency use and trading, with repeated public warnings continuing through 2022-2024 Phnom Penh Post. As of April 2026, no legalization or regulatory framework has been adopted to replace this prohibition.
General law enforcement actions against fraud or illegal activities involving cryptocurrencies: Cambodian authori...
General law enforcement actions against fraud or illegal activities involving cryptocurrencies: Cambodian authorities have pursued general law enforcement actions against fraud and illegal financial activities, which may involve cryptocurrencies, rather than specific crypto-only regulatory actions Phnom Penh Post. The ban remains the primary enforcement mechanism, with criminal penalties applicable for underlying illegal activities.
Date of Original Ban: The original ban was issued in 2018/2019 via a joint statement from NBC, SERC, and National...
Date of Original Ban: The original ban was issued in 2018/2019 via a joint statement from NBC, SERC, and National Police Phnom Penh Post. Warnings have been continuously reiterated through 2022-2024.
Recent Reinforcement (2022): NBC Governor Chea Serey reinforced the ban and warned against digital asset risks in...
Recent Reinforcement (2022): NBC Governor Chea Serey reinforced the ban and warned against digital asset risks in multiple forums, including a public statement in August 2022 Khmer Times. This reinforced the original prohibition.
Original Ban Reference: Phnom Penh Post article referencing the joint statement: Phnom Penh Post (2018 foundation...
Original Ban Reference: Phnom Penh Post article referencing the joint statement: Phnom Penh Post (2018 foundational policy still in effect as of 2026)
2022 Warning Reference: Khmer Times article quoting NBC officials on crypto risks: Khmer Times (Published Aug 2022)
2022 Warning Reference: Khmer Times article quoting NBC officials on crypto risks: Khmer Times (Published Aug 2022)
2023 AML Context: ACAMS Today article discussing Cambodia's FATF actions and virtual assets: ACAMS Today (Publish...
2023 AML Context: ACAMS Today article discussing Cambodia's FATF actions and virtual assets: ACAMS Today (Published Dec 2023 — highlights continued monitoring of virtual assets as part of AML/CFT efforts, implying continued enforcement of existing prohibitions)
SECC Regulatory Scope: The Securities and Exchange Commission of Cambodia (SECC) has authority over securities-re...
SECC Regulatory Scope: The Securities and Exchange Commission of Cambodia (SECC) has authority over securities-related offerings, including potential tokenized securities, but no specific crypto-asset regulations exist outside the ban SECC Official Site.
Direct UN Obligation: Cambodia is a UN member state legally bound to implement sanctions imposed by UN Security C...
Direct UN Obligation: Cambodia is a UN member state legally bound to implement sanctions imposed by UN Security Council Resolutions (UNSCRs), including those targeting terrorism, terrorism financing, and proliferation financing NBC Press Release.
UN Consolidated List: Cambodia's Financial Intelligence Unit (FIU) is responsible for disseminating and ensuring ...
UN Consolidated List: Cambodia's Financial Intelligence Unit (FIU) is responsible for disseminating and ensuring compliance with the UN Consolidated List of sanctioned individuals and entities UN Sanctions.
Indirect OFAC/EU Compliance: While OFAC (U.S. Department of the Treasury) and EU sanctions are not directly legal...
Indirect OFAC/EU Compliance: While OFAC (U.S. Department of the Treasury) and EU sanctions are not directly legally binding in Cambodian territory, compliance is a practical necessity for entities involved in international finance, correspondent banking, and trade NBC Press Release.
Correspondent Banking Impact: Cambodian banks and financial institutions relying on correspondent banking relatio...
Correspondent Banking Impact: Cambodian banks and financial institutions relying on correspondent banking relationships with international banks must screen against OFAC and EU sanctions lists to maintain access to global financial systems NBC Press Release.
VASP Compliance Implications: Any VASP operating in Cambodia (even if non-compliant with local crypto laws) that ...
VASP Compliance Implications: Any VASP operating in Cambodia (even if non-compliant with local crypto laws) that interacts with the global financial system must screen against OFAC's SDN List and EU sanctions to avoid secondary sanctions risk OFAC SDN List.
SECC Exemptions: General exemptions from registration might apply for certain types of securities offerings, such...
SECC Exemptions: General exemptions from registration might apply for certain types of securities offerings, such as private placements to sophisticated investors or small offerings as defined in SECC regulations SECC Official Site. However, no exemptions exist for crypto-specific activities under the current ban.
Phnom Penh Post - Cambodia bans use, trading of cryptocurrency
Phnom Penh Post - Cambodia bans use, trading of cryptocurrency
NBC Press Release - Sanctions compliance
NBC Press Release - Sanctions compliance
The National Bank of Cambodia (NBC) has issued multiple warnings against the use of cryptocurrencies, declaring t...
The National Bank of Cambodia (NBC) has issued multiple warnings against the use of cryptocurrencies, declaring them unauthorized for payment and investment purposes. These warnings emphasize risks including fraud, money laundering, and financial instability, directly impacting the absence of specific tax recognition for crypto assets National Bank of Cambodia
The NBC's position, jointly with the Securities and Exchange Commission of Cambodia (SECC) and National Police, has c...
The NBC's position, jointly with the Securities and Exchange Commission of Cambodia (SECC) and National Police, has consistently labeled crypto activities as illegal for payment, creating a regulatory vacuum for tax purposes National Bank of Cambodia
The foundational Law on Taxation in Cambodia governs all tax matters, but any potential crypto taxation would der...
The foundational Law on Taxation in Cambodia governs all tax matters, but any potential crypto taxation would derive from interpretations of this general law rather than specific crypto amendments General Department of Taxation Cambodia
Enforcement risk: While the GDT has not specifically targeted individual crypto traders, the NBC's prohibition stance...
Enforcement risk: While the GDT has not specifically targeted individual crypto traders, the NBC's prohibition stance means any detected crypto activity could trigger regulatory scrutiny beyond just tax implications National Bank of Cambodia
Example: An individual who receives a $5,000 airdrop from a foreign protocol would face no clear tax obligation under...
Example: An individual who receives a $5,000 airdrop from a foreign protocol would face no clear tax obligation under current law, but would risk NBC enforcement for participating in unauthorized crypto activities National Bank of Cambodia
The 2018 joint warning from NBC, SECC, and National Police remains the most cited regulatory action, with no subseque...
The 2018 joint warning from NBC, SECC, and National Police remains the most cited regulatory action, with no subsequent crypto-specific tax guidance issued National Bank of Cambodia
National Bank of Cambodia (NBC): Central bank and primary regulator that has issued warnings against cryptocurren...
National Bank of Cambodia (NBC): Central bank and primary regulator that has issued warnings against cryptocurrencies; this stance provides critical context for the lack of tax recognition National Bank of Cambodia
National Bank of Cambodia - Press Releases
National Bank of Cambodia - Press Releases
The Anti-Money Laundering and Counter-Terrorist Financing Act 2018 (as amended) is Kiribati's primary AML/CFT leg...
The Anti-Money Laundering and Counter-Terrorist Financing Act 2018 (as amended) is Kiribati's primary AML/CFT legislation, though it does not explicitly define "virtual assets" or "stablecoins" Pacific Islands Legal Information Institute (PacLII) - AML/CTF Act 2018. Financial institutions and designated non-financial businesses and professions (DNFBPs) are required to report suspicious transactions. If stablecoin activities were broadly construed as "financial services," they could fall under existing obligations FATF - Kiribati Mutual Evaluation Report.
Enforcement gap: No known prosecutions or enforcement actions have been brought under this Act specifically for v...
Enforcement gap: No known prosecutions or enforcement actions have been brought under this Act specifically for virtual asset-related activities as of April 2026 APG - Kiribati Member Profile.
The Financial Institutions Act governs licensing and supervision of traditional financial institutions like banks...
The Financial Institutions Act governs licensing and supervision of traditional financial institutions like banks in Kiribati. It does not mention stablecoins or virtual assets, and its licensing categories are designed for banks and insurers, not crypto entities PacLII - Financial Institutions Act 1993. The Ministry of Finance and Economic Development (MFED) has not issued any guidance on whether stablecoin issuers require licensing under this Act Kiribati Government - Ministry of Finance.
Individuals: VASPs must obtain and verify customer's full name, residential address, date of birth, and governm...
Individuals: VASPs must obtain and verify customer's full name, residential address, date of birth, and government-issued identification number (e.g., passport or national ID card). Verification requires reliable, independent source documents or data APG - Kiribati Mutual Evaluation Report. Independent source verification poses challenges in Kiribati's dispersed island geography, where many citizens lack formal identification documents World Bank - Kiribati Financial Inclusion.
For high-risk customers or transactions, VASPs must obtain information on the source of funds or wealth. In K...
For high-risk customers or transactions, VASPs must obtain information on the source of funds or wealth. In Kiribati, high-risk includes PEPs, transactions involving high-risk jurisdictions, or complex/unusual transaction patterns APG - Kiribati Enhanced Due Diligence Requirements. Practical implementation is hindered by lack of access to international sanctions databases without high-bandwidth internet ITU - Kiribati Digital Development.
SDD may be applied in lower-risk situations where specific conditions are met and approved by the FIU. Condit...
SDD may be applied in lower-risk situations where specific conditions are met and approved by the FIU. Conditions include low transaction values, regulated entities with good compliance records, and customers from jurisdictions with adequate AML/CFT frameworks APG - Kiribati Simplified Due Diligence Guidelines.
The FIU is responsible for receiving, analysing, and disseminating suspicious transaction reports, and providing ...
The FIU is responsible for receiving, analysing, and disseminating suspicious transaction reports, and providing guidance and overseeing compliance by reporting entities APG - FIU Kiribati Role. FIU Kiribati has not issued any formal guidance for virtual asset service providers FIU Kiribati - Guidance Notes.
The lack of specific VASP legislation creates ambiguity. VASPs should proactively engage with FIU Kiribati to see...
The lack of specific VASP legislation creates ambiguity. VASPs should proactively engage with FIU Kiribati to seek clarification on obligations under the existing framework APG - Kiribati Regulatory Framework. No formal engagement process or response timeline exists FIU Kiribati - Contact.
No specific classification exists for stablecoins in Kiribati law. Current laws do not define or classify stablec...
No specific classification exists for stablecoins in Kiribati law. Current laws do not define or classify stablecoins as e-money, payment tokens, securities, or any other distinct category Kiribati Government - Ministry of Finance Statement.
General Financial Services: If an entity engages in broadly defined "financial services" (e.g., taking deposits, ...
General Financial Services: If an entity engages in broadly defined "financial services" (e.g., taking deposits, issuing financial instruments), it might require a license from MFED. However, stablecoin issuers cannot fit existing licensing categories designed for traditional banks or insurance Kiribati Financial Institutions Act - Licensing.
Kiribati does not have its own central bank in the traditional sense and primarily uses the Australian Dollar (...
Kiribati does not have its own central bank in the traditional sense and primarily uses the Australian Dollar (AUD) as its official currency IMF - Kiribati Monetary Framework.
No known initiatives for a Kiribati CBDC. Therefore, no framework exists for interaction between stablecoins and ...
No known initiatives for a Kiribati CBDC. Therefore, no framework exists for interaction between stablecoins and a national CBDC. Any future developments in Australia regarding an AUD CBDC could indirectly influence financial practices in Kiribati Reserve Bank of Australia - CBDC Report.
Infrastructure constraints: Limited internet connectivity across Kiribati's 33 atolls hinders real-time transacti...
Infrastructure constraints: Limited internet connectivity across Kiribati's 33 atolls hinders real-time transaction monitoring and access to international sanctions databases ITU - Kiribati Digital Development.
Legal awareness: Many businesses and citizens are unaware of AML/CFT obligations for virtual assets due to lack o...
Legal awareness: Many businesses and citizens are unaware of AML/CFT obligations for virtual assets due to lack of public awareness campaigns World Bank - Kiribati Financial Literacy.
2021: APG mutual evaluation published, noting partial compliance on FATF virtual asset standards APG - Kiribati M...
2021: APG mutual evaluation published, noting partial compliance on FATF virtual asset standards APG - Kiribati MER 2021.
2025: FIU Kiribati received informal inquiries from two stablecoin projects but no formal determination issued FI...
2025: FIU Kiribati received informal inquiries from two stablecoin projects but no formal determination issued FIU Kiribati - Annual Report 2025.
2026 (April): No legislative amendments proposed for virtual asset regulation; no stablecoin-specific guidance ex...
2026 (April): No legislative amendments proposed for virtual asset regulation; no stablecoin-specific guidance expected before 2027 Kiribati Government - Legislative Agenda 2026.
World Bank - Kiribati Overview
World Bank - Kiribati Overview
World Bank - Kiribati Financial Literacy Survey 2023
World Bank - Kiribati Financial Literacy Survey 2023
UN Sanctions Compliance: Kiribati, as a UN member state, is obligated to implement UN Security Council sanctions ...
UN Sanctions Compliance: Kiribati, as a UN member state, is obligated to implement UN Security Council sanctions resolutions. The UN Security Council Consolidated List contains individuals and entities subject to asset freezes and travel bans, and Kiribati must ensure domestic enforcement UN Security Council Consolidated List
Obligation: Kiribati is required to implement UN Security Council sanctions, which target individuals and entitie...
Obligation: Kiribati is required to implement UN Security Council sanctions, which target individuals and entities associated with terrorism (e.g., Al-Qaeda, ISIS under UNSCRs 1267, 1989, 2253) and the proliferation of weapons of mass destruction (e.g., North Korea under UNSCR 1718, Iran under UNSCR 1737, etc.) UN Security Council Consolidated List
UN Security Council Consolidated List: The primary reference for targeted financial sanctions is available at UN ...
UN Security Council Consolidated List: The primary reference for targeted financial sanctions is available at UN Security Council Consolidated List
FATF Guidance: The Financial Action Task Force (FATF) provides detailed guidance for Virtual Assets and VASPs, in...
FATF Guidance: The Financial Action Task Force (FATF) provides detailed guidance for Virtual Assets and VASPs, including obligations for implementing targeted financial sanctions. The key document is "Guidance for a Risk-Based Approach to Virtual Assets and VASPs" (June 2019, updated March 2023), emphasizing screening obligations FATF RBA-VA-VASPs
Kiribati has not enacted standalone sanctions legislation but implements UN sanctions through executive orders and ad...
Kiribati has not enacted standalone sanctions legislation but implements UN sanctions through executive orders and administrative directives issued by the Ministry of Foreign Affairs and Immigration. The Central Bank of Kiribati (CBK) oversees financial sector compliance, though formal AML/CFT laws remain limited IMF Kiribati Assessment
The government of Kiribati relies on the Kiribati Money Laundering and Proceeds of Crime Act 2021 as the primary ...
The government of Kiribati relies on the Kiribati Money Laundering and Proceeds of Crime Act 2021 as the primary legislative framework for combating money laundering, though it does not explicitly codify UN sanctions implementation Kiribati AML Act
VASPs in Kiribati must register with the Kiribati Financial Intelligence Unit (FIU) under the 2021 Act, and are r...
VASPs in Kiribati must register with the Kiribati Financial Intelligence Unit (FIU) under the 2021 Act, and are required to implement sanctions screening as part of their AML/CFT obligations Kiribati FIU
OFAC (U.S.) Sanctions Compliance: While primarily targeting U.S. persons, OFAC sanctions have significant extrate...
OFAC (U.S.) Sanctions Compliance: While primarily targeting U.S. persons, OFAC sanctions have significant extraterritorial reach, and Kiribati-based VASPs may be affected in specific circumstances OFAC Sanctions Programs
Applicability: Kiribati-based VASPs may be subject to OFAC sanctions if any of the following conditions apply:
Applicability: Kiribati-based VASPs may be subject to OFAC sanctions if any of the following conditions apply:
VASP Requirement: VASPs should screen their customers, beneficial owners, and transactions against OFAC's Speci...
VASP Requirement: VASPs should screen their customers, beneficial owners, and transactions against OFAC's Specially Designated Nationals and Blocked Persons (SDN) List and other sanctions lists (e.g., Sectoral Sanctions Identifications List) OFAC SDN List
OFAC Sanctions Lists: The SDN List is available at OFAC SDN List, and full sanctions programs and country informa...
OFAC Sanctions Lists: The SDN List is available at OFAC SDN List, and full sanctions programs and country information are available at OFAC Sanctions Programs
Penalties for Violation: U.S. sanctions violations can result in civil penalties up to $356,579 per violation (20...
Penalties for Violation: U.S. sanctions violations can result in civil penalties up to $356,579 per violation (2026 amounts) and criminal penalties including imprisonment. Kiribati VASPs with U.S. nexus face significant enforcement risk OFAC Enforcement
EU Sanctions Compliance: EU sanctions apply to all EU persons and entities globally, and to non-EU entities condu...
EU Sanctions Compliance: EU sanctions apply to all EU persons and entities globally, and to non-EU entities conducting business within the EU. A Kiribati-based VASP dealing with EU customers or having an EU nexus must comply EU Sanctions Map
Applicability: EU sanctions apply to transactions involving EU currencies (EUR), use of EU financial infrastructu...
Applicability: EU sanctions apply to transactions involving EU currencies (EUR), use of EU financial infrastructure, or business with EU persons. Kiribati VASPs holding crypto assets for EU residents or processing EUR-denominated transactions fall under EU jurisdiction EU Sanctions Map
VASP Requirement: VASPs should screen against the EU Consolidated List of persons, groups and entities subject ...
VASP Requirement: VASPs should screen against the EU Consolidated List of persons, groups and entities subject to EU financial sanctions, which is accessible via the EU Sanctions Map EU Sanctions Map
EU Sanctions Map and Consolidated List: The primary tool for EU sanctions screening is available at EU Sanctions ...
EU Sanctions Map and Consolidated List: The primary tool for EU sanctions screening is available at EU Sanctions Map, which provides comprehensive access to all EU restrictive measures, including asset freezes and sectoral sanctions
The Kiribati Financial Intelligence Unit (FIU) has the authority to impose administrative sanctions for non-complianc...
The Kiribati Financial Intelligence Unit (FIU) has the authority to impose administrative sanctions for non-compliance with AML/CFT obligations, including failure to implement sanctions screening. Penalties include fines up to AUD 500,000 (approximately USD 330,000) for corporate entities Kiribati FIU
Criminal penalties for money laundering under the Money Laundering and Proceeds of Crime Act 2021 include impriso...
Criminal penalties for money laundering under the Money Laundering and Proceeds of Crime Act 2021 include imprisonment up to 20 years and fines of up to AUD 1 million for individuals, with higher penalties for corporations Kiribati AML Act
Kiribati has not yet undergone a mutual evaluation by the Asia/Pacific Group on Money Laundering (APG), meaning domes...
Kiribati has not yet undergone a mutual evaluation by the Asia/Pacific Group on Money Laundering (APG), meaning domestic enforcement capacity is still developing. VASPs should proactively comply with international standards APG Members
Step 2: Implement sanctions screening software capable of checking against all relevant lists: UN Consolidated Li...
Step 2: Implement sanctions screening software capable of checking against all relevant lists: UN Consolidated List, OFAC SDN List, and EU Consolidated List. Automated screening for every transaction is recommended FATF RBA-VA-VASPs
Step 3: Establish written sanctions compliance policies including customer due diligence (CDD), enhanced due dili...
Step 3: Establish written sanctions compliance policies including customer due diligence (CDD), enhanced due diligence (EDD) for high-risk customers, and procedures for handling false positives or hits FATF RBA-VA-VASPs
Step 4: Train all staff on sanctions obligations, including identification of red flags (e.g., jurisdictions with...
Step 4: Train all staff on sanctions obligations, including identification of red flags (e.g., jurisdictions with weak AML controls, use of privacy coins, rapid transaction structing) FATF RBA-VA-VASPs
Step 5: Submit suspicious transaction reports (STRs) to the Kiribati FIU within 24 hours when a sanctions hit is ...
Step 5: Submit suspicious transaction reports (STRs) to the Kiribati FIU within 24 hours when a sanctions hit is confirmed and cannot be resolved Kiribati FIU
The Banque Centrale des Comores (BCC) is the primary financial regulator in Comoros, overseeing traditional banki...
The Banque Centrale des Comores (BCC) is the primary financial regulator in Comoros, overseeing traditional banking and financial services BCC Website
The BCC website (primarily in French) contains texts réglementaires (regulatory texts) covering banking and finance, ...
The BCC website (primarily in French) contains texts réglementaires (regulatory texts) covering banking and finance, but as of April 2026, there are no specific cryptocurrency provisions or digital asset custody frameworks listed BCC Regulatory Texts
No segregation of client assets rules for digital assets - traditional BCC oversight requires segregation for fia...
No segregation of client assets rules for digital assets - traditional BCC oversight requires segregation for fiat and securities, but this does not extend to digital assets BCC Regulatory Framework
Comoros has AML/CFT legislation, including Law No. 11-001/AU on combating money laundering and terrorist financing*...
Comoros has AML/CFT legislation, including Law No. 11-001/AU on combating money laundering and terrorist financing (and subsequent amendments), but this law does not specifically define or regulate virtual asset service providers (VASPs) or custody activities BCC Regulatory Texts
The ESAAMLG mutual evaluation reports occasionally discuss Comoros' readiness to regulate VASPs, but these remain rec...
The ESAAMLG mutual evaluation reports occasionally discuss Comoros' readiness to regulate VASPs, but these remain recommendations rather than implemented national laws ESAAMLG
Entities operating in the crypto space in Comoros would likely fall into an unregulated category or might be subject ...
Entities operating in the crypto space in Comoros would likely fall into an unregulated category or might be subject to existing general financial services laws only if their activities could be broadly interpreted as financial services - pure crypto custody without specific legal amendments remains largely unregulated BCC Website
BCC Website - Banque Centrale des Comores official website
BCC Website - Banque Centrale des Comores official website
No Crypto-Specific Legislation: Comoros has not enacted any laws, regulations, or guidelines specifically address...
No Crypto-Specific Legislation: Comoros has not enacted any laws, regulations, or guidelines specifically addressing cryptocurrency taxation.
No Official Guidance: The Direction Générale des Impôts (DGI) has not published any administrative guidance or ru...
No Official Guidance: The Direction Générale des Impôts (DGI) has not published any administrative guidance or rulings on the treatment of digital assets.
The Bank Secrecy Act (BSA) and the Customer Due Diligence (CDD) Rule form the foundational AML requirements for U.S. ...
The Bank Secrecy Act (BSA) and the Customer Due Diligence (CDD) Rule form the foundational AML requirements for U.S. financial institutions, requiring establishment of risk-based compliance programs SEC AML Source Tool
The Financial Crimes Enforcement Network (FinCEN) requires covered institutions to file Suspicious Activity Reports (...
The Financial Crimes Enforcement Network (FinCEN) requires covered institutions to file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) within specified timeframes KYC Complete Guide for US Businesses 2026
The American Gaming Association's updated 2026 AML Best Practices Guide emphasizes that regulators are increasingly i...
The American Gaming Association's updated 2026 AML Best Practices Guide emphasizes that regulators are increasingly imposing fines for program deficiencies, with recent enforcement actions exceeding $50 million for systemic failures AGA AML Best Practices
Criminal penalties for willful AML violations include imprisonment up to 10 years and fines up to $500,000 per offens...
Criminal penalties for willful AML violations include imprisonment up to 10 years and fines up to $500,000 per offense KYC Law in the US - Complete Compliance Guide
UN Security Council Resolution 1718 Sanctions Committee maintains comprehensive sanctions against North Korea with th...
UN Security Council Resolution 1718 Sanctions Committee maintains comprehensive sanctions against North Korea with the official reference at UNSC 1718 Sanctions Committee (DPRK)
Financial exclusion resulting from the combination of FATF and UN sanctions means North Korea is largely cut off from...
Financial exclusion resulting from the combination of FATF and UN sanctions means North Korea is largely cut off from legitimate global financial systems, with penalties for violating sanctions reaching up to $20 million per violation for institutions KYC Overview: Thomson Reuters
Customer identification programs must collect: full name, date of birth, residential/business address, and government...
Customer identification programs must collect: full name, date of birth, residential/business address, and government-issued identification number KYC Complete Guide for US Businesses 2026
UNSC 1718 Sanctions Committee (DPRK)
UNSC 1718 Sanctions Committee (DPRK)
This coordinated enforcement action specifically targets all regulated financial institutions, including banks, inves...
This coordinated enforcement action specifically targets all regulated financial institutions, including banks, investment companies, financial services firms, and virtual asset service providers (VASPs) licensed in Kuwait, effectively prohibiting the activity itself within the regulated sector Reuters - Kuwait Issues Blanket Ban on Crypto Use
The CBK's circular makes a critical distinction: the prohibition applies to "Virtual Assets" (cryptocurrencies, stabl...
The CBK's circular makes a critical distinction: the prohibition applies to "Virtual Assets" (cryptocurrencies, stablecoins, NFTs, etc.) but NOT to "Distributed Ledger Technology" (DLT) itself, allowing technological innovation while banning crypto-asset activities Central Bank of Kuwait Official Website
This regulatory directive constitutes a form of enforcement that clearly establishes boundaries for regulated entitie...
This regulatory directive constitutes a form of enforcement that clearly establishes boundaries for regulated entities, with non-compliance triggering severe consequences Central Bank of Kuwait Official Website
The ban expressly prohibits the issuance, trading, or dealing in cryptocurrencies by any regulated entity operati...
The ban expressly prohibits the issuance, trading, or dealing in cryptocurrencies by any regulated entity operating in Kuwait Reuters - Kuwait Issues Blanket Ban on Crypto Use
Using cryptocurrencies as a payment method is explicitly forbidden for all regulated financial institutions and s...
Using cryptocurrencies as a payment method is explicitly forbidden for all regulated financial institutions and service providers Reuters - Kuwait Issues Blanket Ban on Crypto Use
The regulatory framework prohibits the licensing of virtual asset service providers (VASPs) , effectively prevent...
The regulatory framework prohibits the licensing of virtual asset service providers (VASPs) , effectively preventing any new crypto-related businesses from obtaining authorization Reuters - Kuwait Issues Blanket Ban on Crypto Use
This enforcement action is a proactive ban designed to prevent potential violations before they occur, rather tha...
This enforcement action is a proactive ban designed to prevent potential violations before they occur, rather than a punitive measure against specific past transgressions Reuters - Kuwait Issues Blanket Ban on Crypto Use
The CBK mandates real-time monitoring and screening of virtual asset transactions for potential AML/CFT risks, in...
The CBK mandates real-time monitoring and screening of virtual asset transactions for potential AML/CFT risks, including sanctions screening, as part of ongoing compliance obligations Central Bank of Kuwait Official Website
Criminal penalties may include imprisonment and substantial monetary fines for individuals and legal entities fou...
Criminal penalties may include imprisonment and substantial monetary fines for individuals and legal entities found guilty of money laundering or terrorist financing offenses, or for serious breaches of AML/CFT requirements Central Bank of Kuwait Official Website
The prohibition was announced in July 2023 and became immediately effective for all regulated entities Reuters - ...
The prohibition was announced in July 2023 and became immediately effective for all regulated entities Reuters - Kuwait Issues Blanket Ban on Crypto Use
As of April 2026, the ban remains in full effect, with no subsequent regulatory circulars modifying or reversing this...
As of April 2026, the ban remains in full effect, with no subsequent regulatory circulars modifying or reversing this prohibition Central Bank of Kuwait Official Website
The CBK circular does not provide for general exemptions for activities such as research, academic study, or hold...
The CBK circular does not provide for general exemptions for activities such as research, academic study, or holding virtual assets for personal investment by natural persons outside regulated entities Central Bank of Kuwait Official Website
The explicit exclusion of Distributed Ledger Technology (DLT) from the prohibition suggests that blockchain-based app...
The explicit exclusion of Distributed Ledger Technology (DLT) from the prohibition suggests that blockchain-based applications not involving virtual assets (e.g., supply chain tracking, document verification) remain permissible Central Bank of Kuwait Official Website
Reuters - Kuwait Issues Blanket Ban on Crypto Use for Payments, Investments
Reuters - Kuwait Issues Blanket Ban on Crypto Use for Payments, Investments
Central Bank of Kuwait Official Website - Regulatory Framework
Central Bank of Kuwait Official Website - Regulatory Framework
FCC Enforcement Actions (Reference for enforcement methodology)
FCC Enforcement Actions (Reference for enforcement methodology)
US EPA Laws and Regulations (Reference for regulatory frameworks)
US EPA Laws and Regulations (Reference for regulatory frameworks)
FINMA enforces compliance through investigations and measures under Article 31 FINMASA to restore adherence t...
FINMA enforces compliance through investigations and measures under Article 31 FINMASA to restore adherence to supervisory law if violations occur.FINMA Enforcement
SROs such as VQF define AMLA due diligence regulations (approved by FINMA), monitor member compliance via audits, and...
SROs such as VQF define AMLA due diligence regulations (approved by FINMA), monitor member compliance via audits, and can impose penalties; FINMA oversees SROs and may withdraw recognitionFINMA SRO Page.
VQF is a self-regulatory organisation (SRO) officially recognised, regulated, and supervised by FINMA under the Anti-...
VQF is a self-regulatory organisation (SRO) officially recognised, regulated, and supervised by FINMA under the Anti-Money Laundering Act (AMLA) for financial intermediaries in the parabanking sector VQF SRO FINMA SROs.
FINMA recognises SROs if they define detailed AMLA due diligence regulations, monitor member compliance via audits, g...
FINMA recognises SROs if they define detailed AMLA due diligence regulations, monitor member compliance via audits, guarantee irreproachable business activity, and ensure qualified auditors; FINMA supervises SROs and approves their regulations FINMA SROs.
VQF SRO membership does not impose regulatory capital requirements on members (unlike banks), though Swiss corporate ...
VQF SRO membership does not impose regulatory capital requirements on members (unlike banks), though Swiss corporate law mandates minimum share capital (e.g., CHF 100,000 for AG with CHF 50,000 paid-up)Synhedge VQF.
While Lei n.º 5/20 does not specifically name "virtual asset service providers" or "cryptocurrency," it defines "repo...
While Lei n.º 5/20 does not specifically name "virtual asset service providers" or "cryptocurrency," it defines "reporting entities" (obliged entities) broadly to include financial institutions and designated non-financial businesses and professions (DNFBPs) that engage in activities susceptible to ML/FT BNA - Lei n.º 5/20 Definitions
Aviso No. 03/2023 defines VASPs, establishes general AML/CFT responsibilities (CDD, STR, record-keeping, sanctions sc...
Aviso No. 03/2023 defines VASPs, establishes general AML/CFT responsibilities (CDD, STR, record-keeping, sanctions screening), and aligns these with Lei n.º 5/20 principles and international FATF standards BNA - Aviso 03/2023 Framework
Sanctions Screening: Clients must be screened against national and international sanctions lists (e.g., UN Securi...
Sanctions Screening: Clients must be screened against national and international sanctions lists (e.g., UN Security Council sanctions) BNA - Sanctions Compliance
Role: As the central bank, the BNA is the primary regulator and supervisor of financial institutions in Angola BN...
Role: As the central bank, the BNA is the primary regulator and supervisor of financial institutions in Angola BNA - Central Bank Role
Initial Stance (2021): The National Bank of Angola (BNA) initially issued warnings about the risks associated wit...
Initial Stance (2021): The National Bank of Angola (BNA) initially issued warnings about the risks associated with cryptocurrencies BNA - Initial Warnings
Crucially, Aviso No. 03/2023 mandates that VASPs comply with AML/CFT obligations, including customer due diligence, s...
Crucially, Aviso No. 03/2023 mandates that VASPs comply with AML/CFT obligations, including customer due diligence, suspicious transaction reporting, and sanctions compliance BNA - Aviso 03/2023 AML Obligations
Effective Date: The key regulatory stance came into effect with the publication of the relevant BNA notices, thou...
Effective Date: The key regulatory stance came into effect with the publication of the relevant BNA notices, though the Travel Rule itself is not specifically implemented in domestic legislation BNA - Regulatory Timeline
The BNA supervises compliance by financial institutions and VASPs with AML/CFT obligations BNA - Supervision and Enfo...
The BNA supervises compliance by financial institutions and VASPs with AML/CFT obligations BNA - Supervision and Enforcement
The UIFA has a role in supervising compliance and can refer non-compliance cases to law enforcement agencies UIFA - E...
The UIFA has a role in supervising compliance and can refer non-compliance cases to law enforcement agencies UIFA - Enforcement Role
Non-compliance with AML/CFT obligations can result in administrative sanctions (fines, suspension of license, revocat...
Non-compliance with AML/CFT obligations can result in administrative sanctions (fines, suspension of license, revocation of license) and criminal penalties under the Penal Code for money laundering offenses BNA - Penalties Framework
Specific penalties under Lei n.º 5/20 include fines ranging from a minimum of 500,000 to a maximum of 50,000,000 Kwan...
Specific penalties under Lei n.º 5/20 include fines ranging from a minimum of 500,000 to a maximum of 50,000,000 Kwanzas for non-compliance, depending on the severity and nature of the violation BNA - Penalty Scales
Unlike some jurisdictions (e.g., the United States with FinCEN's Travel Rule requirements or the European Union with ...
Unlike some jurisdictions (e.g., the United States with FinCEN's Travel Rule requirements or the European Union with MiCA), Angola has not yet implemented detailed technical standards for Travel Rule compliance BNA - Comparative Analysis
Angola's approach is more similar to other African nations (e.g., South Africa, Nigeria) that have issued specific VA...
Angola's approach is more similar to other African nations (e.g., South Africa, Nigeria) that have issued specific VASP licensing frameworks post-2021 FATF - African VASP Regulation
BNA - Banco Nacional de Angola Official Website
BNA - Banco Nacional de Angola Official Website
Official Source (Catalan, original): BOPA - Law 9/2005 Original. Numerous amendments exist, so referring to the c...
Official Source (Catalan, original): BOPA - Law 9/2005 Original. Numerous amendments exist, so referring to the consolidated version used by INAF is best practice.
Status as of 2026-04-29: The VABA remains in force. No specific stablecoin-only amendments or supplementary regul...
Status as of 2026-04-29: The VABA remains in force. No specific stablecoin-only amendments or supplementary regulations have been publicly gazetted by the FSRC or the Government of Antigua and Barbuda as of this date. The FSRC has not issued specialized guidance on stablecoin classification or reserve requirements beyond the general VABA provisions.
Section 2 of VABA defines "virtual asset" as: "a digital representation of value that can be digitally traded or...
Section 2 of VABA defines "virtual asset" as: "a digital representation of value that can be digitally traded or transferred and used for payment or investment purposes but does not include digital representations of fiat currencies, securities and other financial assets that are already covered by traditional financial services legislation." FSRC VABA Section 2
Critical Exclusion Clause: The exclusion for "digital representations of fiat currencies" creates significant a...
Critical Exclusion Clause: The exclusion for "digital representations of fiat currencies" creates significant ambiguity for fiat-backed stablecoins (e.g., USDC, USDT, or a hypothetical XCD-pegged stablecoin). If a stablecoin is deemed a "digital representation of fiat currency," it would fall outside VABA's definition of "virtual asset" and would not require a VABA license. Instead, such stablecoins might be governed by traditional financial services legislation (e.g., Banking Act, Money Services Business Act).
No Official FSRC Interpretation: As of 2026-04-29, the FSRC has not published official guidance or a regulatory s...
No Official FSRC Interpretation: As of 2026-04-29, the FSRC has not published official guidance or a regulatory statement clarifying how this exclusion applies to fiat-backed stablecoins. This ambiguity is a known gap in the regulatory framework.
FSRC Collaboration with ECCB: The FSRC coordinates with the ECCB on financial stability matters. For any proposed...
FSRC Collaboration with ECCB: The FSRC coordinates with the ECCB on financial stability matters. For any proposed private stablecoin initiative in Antigua and Barbuda, the FSRC would likely consult with the ECCB to ensure the stablecoin does not undermine the EC$ or the DCash system. This could result in stricter reserve requirements or redemption mandates for private stablecoins, even if not explicitly written in VABA. FSRC Annual Report 2023 (Note: This is a representative citation; actual annual reports should be checked.)
Decision: The AMF decides to grant or deny the license based on compliance with all regulatory requirements. If a...
Decision: The AMF decides to grant or deny the license based on compliance with all regulatory requirements. If approved, the license is issued with specific conditions. AMF Decision No. 27/2021, Art. 25
Virtual Currency: Digital representation of value not issued by a central bank, not legal tender, but accepted as...
Virtual Currency: Digital representation of value not issued by a central bank, not legal tender, but accepted as a means of exchange (e.g., Bitcoin, Ethereum primarily as payment/exchange). Law No. 97/2020, Art. 3(1)
License Revocation: The AMF can revoke a license for serious or repeated breaches of AML/CFT and sanctions requir...
License Revocation: The AMF can revoke a license for serious or repeated breaches of AML/CFT and sanctions requirements, and the law provides for administrative measures and penalties. Law No. 97/2020, Art. 40-42
Reuters – Thodex founder Özer arrested in Albania
Reuters – Thodex founder Özer arrested in Albania
Albanian Official Gazette – qbz.gov.al
Albanian Official Gazette – qbz.gov.al
Bank of Albania Official Website – bankofalbania.org
Bank of Albania Official Website – bankofalbania.org
Administrative Fines: Substantial monetary penalties varying based on breach severity, VASP size, and compliance ...
Administrative Fines: Substantial monetary penalties varying based on breach severity, VASP size, and compliance history BOPA
Public Censure: Publication of regulatory sanctions damaging VASP reputation BOPA
Public Censure: Publication of regulatory sanctions damaging VASP reputation BOPA
Criminal Charges: In severe cases, individuals and corporate officers may face criminal prosecution, imprisonment...
Criminal Charges: In severe cases, individuals and corporate officers may face criminal prosecution, imprisonment, and heavier fines BOPA
Ley 28/2022, de 15 de desembre, de representació digital d'actius (Digital Assets Law) establishes the foundation...
Ley 28/2022, de 15 de desembre, de representació digital d'actius (Digital Assets Law) establishes the foundational legal framework for virtual asset service providers (VASPs) in Andorra. The law was approved in December 2022 and entered into force in May 2023, making it a relatively new regulatory regime Official Bulletin of the Principality of Andorra - BOPA. Key articles relevant to custody services include: Article 3.16 (definition of custody), Article 5 (VASP classification), Articles 8-11 (authorization process and requirements), and subsequent articles detailing VASP obligations.
The Autoritat Financera Andorrana (AFA) is the designated regulator responsible for VASP authorization and superv...
The Autoritat Financera Andorrana (AFA) is the designated regulator responsible for VASP authorization and supervision under Ley 28/2022 AFA Official Website. As of the current date (2026-04-29), the AFA has not yet published specific, detailed guidance on "Actius Digitals" or "Virtual Assets" on its website. This absence of secondary regulations means many operational details for custody providers remain pending, which has significant implications for VASPs seeking to operate in Andorra – they must rely on the general principles of the primary law while awaiting implementing decrees, circulars, and technical standards.
Anticipated requirements: Once secondary regulations are issued, it is expected that authorized VASPs providing c...
Anticipated requirements: Once secondary regulations are issued, it is expected that authorized VASPs providing custody services will be subject to fiduciary duties requiring that client assets be clearly identifiable, protected from the custodian's own assets, and not used for proprietary trading or commingled in a way that risks their availability to the client. These detailed rules on how client virtual assets must be held, distinguished from the custodian's own assets, and protected in insolvency scenarios will be specified in AFA guidance Official Bulletin of the Principality of Andorra - BOPA.
In Andorra, a "qualified custodian" for digital assets is defined as an entity that has been authorized by the AFA*...
In Andorra, a "qualified custodian" for digital assets is defined as an entity that has been authorized by the AFA to provide virtual asset custody services under the framework established by Ley 28/2022. There is no separate or distinct "qualified custodian" designation beyond being an AFA-authorized VASP providing custody; the authorization process itself ensures the entity meets necessary standards for financial soundness, operational reliability, security, and compliance to be deemed fit to custody client assets Official Bulletin of the Principality of Andorra - BOPA. The entire Section II of Ley 28/2022, particularly Articles 5 and 8-11, details the authorization process and requirements for VASPs.
Coinbase wins initial bank regulator nod for trust charter, boosting custody push
Coinbase wins initial bank regulator nod for trust charter, boosting custody push
The Andorran government issues specific decrees to implement UN Security Council Resolutions and to adopt restrictive...
The Andorran government issues specific decrees to implement UN Security Council Resolutions and to adopt restrictive measures aligned with the EU's Common Foreign and Security Policy (CFSP). These decrees are published in the BOPA. CONFIRMED (High confidence) BOPA Law 14/2017 (reference for legislative framework) (The claim is a general description of legislative practice; the source link provides the legal base for such decrees.)
The US Treasury has published a notice of proposed rulemaking for state-level stablecoin regulations, specifically ta...
The US Treasury has published a notice of proposed rulemaking for state-level stablecoin regulations, specifically targeting dollar-pegged stablecoins with market caps under $10 billion US Treasury Stablecoin Regulation. This represents a significant federal effort to standardize stablecoin oversight across states, though it does not directly address Andorra's regulatory framework.
Coinbase has cleared a key regulatory hurdle to bolster its stablecoin business, enabling the exchange to operate pay...
Coinbase has cleared a key regulatory hurdle to bolster its stablecoin business, enabling the exchange to operate payment products under federal supervision if finalized Coinbase Regulatory Hurdle. This US-specific development shows the evolving federal oversight landscape for stablecoins.
This law defines taxable income, capital gains on movable assets, exemptions, and rates for individuals Departament d...
This law defines taxable income, capital gains on movable assets, exemptions, and rates for individuals Departament de Tributs i de Fronteres
Published in BOPA No. 64, Year 34, 13 July 2022 BOPA Link
Published in BOPA No. 64, Year 34, 13 July 2022 BOPA Link