AI-maintained daily updates on crypto regulations worldwide. Newest first — page 41 of 43.
Penalties for Non-Compliance: Not explicitly detailed in available sources; general AMLR penalties apply for breaches, with CIMA supervisory enforcement. Registration is mandatory for VASPs.
Primary Legislation: Anti-Money Laundering Regulations (as revised), Part XA; Anti-Money Laundering (Amendment No. 2) Regulations, 2020.
CIMA Guidance: Travel Rule Requirements notice (Feb 22, 2022); Sector Specific Guidance on VASPs (Sept 2023 revision); Guidance Notes on Prevention of Money Laundering/ Terrorist Financing (amendments).
Virtual Financial Assets Act (VFAA) – The foundational legislation enacted in 2018 that first regulated cryptocurrency in Malta
Markets in Crypto-Assets Regulation (MiCA) – EU-wide regulation implemented in Malta through Act XIV of 2024, which integrated Titles III and IV concerning Asset-Referenced Tokens (ARTs) and E-Money Tokens (EMTs)
Virtual Financial Assets Regulations and VFA Rulebook: Detail custody/segregation (MFSA-issued).
VFA Rulebook (Chapter 3 on Service Providers): https://www.mfsa.mt/wp-content/uploads/VFA-Rulebook-issued-in-terms-of-VFAA-27.11.2018.pdf
Fintech Law (Ley para Regular las Instituciones de Tecnología Financiera): Defines virtual assets and grants Banxico regulatory powers but excludes non-financial custody from licensing.
No approvals granted by Banxico post-2019 secondary rules, with fines up to $47,000 for violations.
Local Presence: No explicit requirement, but company setup (if incorporating) needs Mexican notary, share certificates, corporate books, tax registry (RFC), e-signature, foreign investment registry (if applicable), and bank account. Office rental may aid compliance.
Submit to Banxico; review takes ~60 banking days.
General company setup: Notary incorporation, RFC registration, bank account opening.
2017 Joint Statement (CNBV/Banxico/SHCP): ICO risks and securities potential. No direct URL in results; referenced in .
Globally, 99 jurisdictions have enacted or are enacting Travel Rule legislation, but Mexico is not confirmed as one of those with active implementation.
Mexico lacks enacted legislation or guidance specifying these elements, placing it in a pre-implementation phase alongside others awaiting legislative approval or technical rollout.
No URLs to Mexican-specific legislation (e.g., from BANXICO or CNBV) or FATF guidance on Mexico's status were identified in the results.
Entity Targeted: Over 1,100 (specifically 1,146) bank accounts of crypto traders and peer-to-peer merchants
Penalty Amount: Not specified (accounts frozen, no fines detailed)
Central Bank of Nigeria (CBN) introduced strict AML checks on crypto firms (2024-2026), but no entities, penalties, or outcomes specified.
OFAC Sanctions List Search: https://sanctionssearch.ofac.treasury.gov
OFAC/EU/UN Country Lists (2026): https://www.sanctionscanner.com/blog/list-of-sanctioned-countries-by-ofac-un-and-eu-2025-1103
Crypto Assets (e.g., non-fiat virtual currencies): Treated as commodities if traded on a Recognized Investment Exchange or issued as investments; otherwise presumed securities.
Investments and Securities Act (ISA), Part XVIII (Section 315): Defines securities.
Central Bank of Nigeria (CBN): Relaxed prior banking restrictions on licensed VASPs and supports AML/CFT/CPF supervision pilots.
Nigeria is actively taking strides toward Travel Rule implementation but has not yet enacted legislation or made it operational, per 2026 global status reports.
No effective date has been established or scheduled for Nigeria, unlike jurisdictions such as Australia (31 July 2026) or Brazil (2 February 2027).
No Nigeria-specific threshold is defined, as implementation is pending. FATF recommends a global de minimis of $1,000/€1,000, but jurisdictions set their own (or none), with varying rules above/below it.
No specific coverage details for Nigeria, pending framework development. In implemented jurisdictions, the rule applies to VASPs handling virtual asset transfers, requiring collection and exchange of originator/beneficiary information.
No penalties specified for Nigeria due to lack of implementation. Globally, enforcement is uneven, with ~59% of jurisdictions with laws yet to issue findings or actions.
EMTs: Issued only by licensed credit institutions or electronic money institutions (EMI), with notification to supervisors via white paper before issuance (Articles 48(6) and 51(11) MiCA).
De Nederlandsche Bank (DNB): Central bank; handles AML/CTF registration for crypto service providers (exchanges, custodians), monitors compliance, supervises stablecoin issuers under MiCA, and enforces Wwft/Sanctions Act. Requires fit-and-proper tests, business plans, and policies for registration.
Strict enforcement: Fines on unregistered platforms (e.g., Binance, Coinbase).
Current system uses presumed yields; a proposed "Actual Return in Box 3 Act" (approved by House in 2026) aims for 36% tax on actual (including unrealized) returns from 2028, but Finance Minister Eelco Heinen announced amendments due to controversy. It awaits Senate approval and may shift away from taxing unrealized gains.
1:1 backing with cash and cash equivalents in Philippine bank accounts, managed via compliant banks.
Effective Date: Not explicitly stated in available sources; implementation aligns with "recently" introduced guidelines around June 2025, amid growing global enforcement trends.
SEC fines up to ₱5 million (~US$88,000) per violation, plus daily penalties; BSP may impose license suspension/revocation and potential imprisonment; aimed at preventing fraud.
The Bank of Portugal for anti-money laundering compliance actions
Individual regulator enforcement databases
Compliance with restrictive measures approved by the UN or EU
Banco de Portugal (BdP, Bank of Portugal): Registers virtual asset service providers (VASPs) and supervises AML/CFT compliance; handles MiCA authorization applications for crypto-asset service providers (CASPs) starting July 2026.
OE2026 (2026 State Budget, finalized January 2026): Retained the 365-day tax exemption.
Specific penalties not detailed in sources; supervision by Banco de Portugal implies enforcement under revised Law No. 83/2017 and AML regime, with potential for administrative sanctions typical in EU frameworks.
Bank of Russia (Central Bank of the Russian Federation): Establishes AML regulations for financial institutions, supervises compliance, issues and revokes licenses based on AML adherence, and provides guidance on AML best practices. The Bank also proposes crypto-specific rules and maintains registration of digital financial asset operators.
Exchanges: Licensed entities with Russian legal status (crypto exchanges, brokers, fiduciary managers) are required. Banks and brokers can obtain crypto exchange licenses via a simplified notification process tied to existing financial permits, subject to prudential requirements set by the Bank of Russia.
Custody Providers: Specialized digital depositories must be licensed or registered in the Bank of Russia's register to maintain records of cryptoasset rights and register wallets. They face restrictions like no lending of client assets and no liability for blockchain malfunctions or issuer blocks.
Payment Processors/Exchangers: Exchangers (for crypto-fiat or crypto-crypto conversions) require inclusion in the Bank of Russia's register. Those with monthly turnover ≥3.5 million rubles can serve users directly; below that, they must use licensed intermediaries. Platforms without Russian licenses are illegal.
Capital: Not explicitly detailed in available sources; prudential requirements apply to banks/brokers, varying by turnover and operations (e.g., for exchangers).
AML/KYC: Implied through mandatory intermediary routing, de-anonymization procedures, transaction monitoring, and tax reporting. Retail users must pass a Bank of Russia competency test; residents report foreign wallets/transactions to tax authorities.
Draft bills on digital currencies/digital rights, approved by government and introduced by Ministry of Finance (Minfin): Channel trades through intermediaries; no direct URL in sources, referenced via .
Bank of Russia register for exchangers/depositories and prudential rules: Licensing/notification for exchanges; competency tests: Implicit in .
Digital currency (e.g., Bitcoin) is not classified as a payment-type digital right and remains a "monetary surrogate" (prohibited for issuance under Central Bank Law).
Issuance of DFAs must occur via approved information systems (operators coordinated with the Central Bank of Russia - CBR).
Rules are set by system operators/exchanges, approved by CBR (Article 7, DFA Law).
Overseers: Bank of Russia (rules, supervision), Rosfinmonitoring (AML/CFT), Federal Tax Service (reporting/taxation), State Duma (legislation).
Bank of Russia (Central Bank of Russia): Primary regulator; proposes/implements rules, supervises financial institutions, registers digital financial asset (DFA) operators, establishes experimental regimes, and bans domestic crypto payments.
2024 Law: Permits digital currency payments in international trade to bypass sanctions, creating an exception to the domestic ban.
Adoption and effective date: No adoption or effective date; Russia's FATF suspension requires it to still meet standards in theory, but no evidence of legislative action specific to the Travel Rule for VASPs exists in available data.
Penalties for non-compliance: None specified for Russia; globally, many jurisdictions lack enforcement frameworks despite laws (59% without actions as of 2025).
Custodial License Requirements: None exist, as no licenses are issued for cryptocurrency practices; entities claiming otherwise face legal action.
Cold Storage Mandates: No mandates, due to the overall ban on public cryptocurrencies.
No standardized licenses: There is no broadly public VASP (Virtual Asset Service Provider) or crypto-specific license for retail exchanges, custody, or payment processing; activities like crypto trading, wallet services, or brokerage fall outside approved perimeters without explicit regulatory approval.
Limited permitted activities: Under SAMA's 2023 Payment Service Provider Regulations (enabled by the 2022 Law of Payments and Payment Providers), related services such as digital banking, electronic payment processing, P2P lending/investment, asset/wealth investment, crypto/blockchain applications, and BNPL may qualify indirectly, but not pure crypto trading or custody.
Primarily a licensing regime with sandbox entry: Business registration alone (e.g., via Ministry of Investment - MISA portal) is insufficient; it precedes a preliminary sandbox application to SAMA for crypto-related activities. No "one-click" registration substitutes for licensing, and unlicensed operations face administrative penalties, unannounced inspections, and potential legal action.
Entity setup first: Legally register a company (e.g., LLC), disclose UBOs/shareholding, define business objects, then seek sandbox admission; foreign firms may operate if activities align with SAMA approvals.
Planned but unconfirmed STO rules via CMA (announced 2022).
Whether Saudi Arabia has enacted specific legislation or regulatory guidance for the Travel Rule
FI sanctions page: https://www.fi.se/en/bank/eu-sanctions/
Certain International Sanctions Act (1996:95): riksagen.se (via FI link)
EU sanctions: Integrated via FI; OFAC SDN: https://sanctionssearch.ofac.treas.gov
MiFID II (implemented nationally).
Digital payment token service providers: Those providing only tokens issued by central banks or financial institutions for limited purposes are exempt from licensing.
SCS pegged to SGD or G10 currencies, issued in Singapore, can qualify as MAS-regulated stablecoins if issuers meet strict requirements, including full reserve backing and a Major Payment Institution (MPI) license; they are distinguished from other DPTs for enhanced trust.
Non-SGD/G10 pegged, multi-asset, or foreign-issued stablecoins remain DPTs or potential securities under SFA.
Monthly independent attestations and annual audits are required; reserves must be segregated with approved custodians.
Penalties for Non-Compliance: Not explicitly detailed in sources, but non-compliance violates MAS regulations under the PSA, subjecting providers to enforcement actions by MAS (e.g., fines, license revocation).
Capital: Minimum paid-up capital deposited in a Thai bank, varying by license type and custody model (e.g., THB 100M for custodial exchanges).
Trading of approved digital assets (e.g., BTC, ETH, USDT/USDC added 16 Mar 2025) only on SEC-licensed exchanges.
VAT-exempt for trades on SEC-approved exchanges since 2022 (extended into 2025+); sales/transfers via licensed operators remain exempt.
Penalties: Fines 2,000-200,000 THB, 1.5% monthly interest, possible jail for evasion; upcoming OECD Crypto-Asset Reporting Framework (CARF) enforcement.
OFAC Compliance: Screen against the Specially Designated Nationals (SDN) list (sanctionssearch.ofac.treas.gov) for wallets, exchanges, and entities; non-U.S. VASPs risk secondary sanctions or penalties (e.g., Binance's $4.3B fine in 2023 for Iran/Cuba/Syria/Crimea transactions).
EU/UK Compliance: Screen EU consolidated lists and UK OFSI lists if using EU/UK clearing or partners; EU sanctions apply to EU-origin goods/transactions.
UN Compliance: No UN sanctions target Turkey, but universal enforcement is expected (though uneven globally).
Loss of U.S. dollar banking, OFAC designation, or EU market access.
OFAC SDN (ofac.treasury.gov/sanctions-programs-and-country-information): Primary for crypto wallets/exchanges.
Central Bank of the Republic of Turkey (TCMB): Responsible for monetary policy and issued the 2021 regulation prohibiting cryptocurrency payments, focusing on maintaining financial stability.
Banking Regulation and Supervision Agency (BRSA): Oversees banking activities related to crypto, including approving banks offering crypto asset custody services.
Law on Amendments to the Capital Markets Law (effective as of July 2024): Requires all crypto asset service providers to obtain an operating license from the CMB.
Sanctions Screening: Institutions must screen transaction data against applicable sanctions lists as a mandatory operational control.
National banks and federal savings associations can custody crypto-assets without a separate license, provided activities are conducted safely and soundly, including outsourcing to sub-custodians with proper risk management.
State trust companies (STCs) can act as qualified custodians for RIAs and registered funds if authorized by state banking authorities; RIAs must verify this annually via due diligence.
Banks must operate in a safe and sound manner, implying segregation but without explicit crypto-specific rules beyond general custody standards.
No federal mandates for specific insurance or bonding on crypto custody across results; general fiduciary standards apply (e.g., safe and sound operations for banks).
Investor bulletins highlight risks of loss in third-party custody (e.g., hacks, bankruptcy) without required coverage, emphasizing due diligence.
Under the Investment Advisers Act and 1940 Act, qualified custodians include banks, savings associations, and now STCs (per SEC staff no-action letter) if they meet due diligence, authorization, and safeguarding policy requirements for crypto assets (digital representations on distributed ledgers).
Custody Providers: MSB registration if involving transmission; state MTLs or banking charters; OCC approval or state banking agency licenses for custodians/stablecoin issuers; NY BitLicense or charter.
Primary U.S. List: OFAC SDN List (https://sanctionssearch.ofac.treasury.gov) – includes crypto addresses; 50% Rule for ownership.
Stablecoins (payment instruments) — Stablecoins meeting defined criteria as "permitted payment stablecoins" used primarily as payment instruments rather than investments
Issuers require approval from federal banking regulators (e.g., OCC for nonbanks, Federal Reserve, FDIC, or NCUA for banks/credit unions).
Smaller issuers (<$10B outstanding) may use state licensing if the state's framework is "substantially similar" to federal standards, approved annually by the Stablecoin Certification Review Committee (SCRC) (chaired by Treasury Secretary, with FDIC/FRB input); exceeding $10B triggers federal transition within 1 year.
Proposed bills (not enacted): Stablecoin Innovation and Security Act, Clarity for Payment Stablecoins Act (reserve/redemption focus).
Financial Crimes Enforcement Network (FinCEN): Enforces AML/CFT for crypto as money services businesses.
Office of the Comptroller of the Currency (OCC): Supervises non-bank stablecoin issuers under GENIUS Act.
Details of proposed directors, senior officers, and compliance officer with fit and proper documentation
BVI Financial Services Commission Guidance on Regulation of Virtual Assets: Issued 2020, provides regulatory clarity on virtual asset activities
UN and UK sanctions (extended to BVI) directly apply to BVI-incorporated bodies, residents, and relevant businesses like VASPs, requiring risk-based policies to screen customers against UN, UK, and extended EU lists.
EU sanctions are not directly applicable but influence BVI via UK Sanctions Orders; BVI Financial Services Commission (FSC) mandates mechanisms to assess sanctions exposure.
OFAC sanctions lack legal force in BVI but are practically required for VASPs with US exposure, including blocking virtual currencies linked to OFAC's Specially Designated Nationals (SDN) list, prohibiting unauthorized transactions, and reporting within 10 business days.
VASPs and relevant persons screen applicants, customers, and relationships against active Sanctions Orders listed on BVI FIA and FSC websites.
Upon identifying designated persons/assets: file reports with the Sanctions Unit (via Governor's Office), submit Suspicious Activity Reports (SARs) to FIA under the Counter-Terrorism Act, 2021, and freeze assets.
Sanctions apply to BVI persons, entities, ships/aircraft, and British citizens resident in BVI, regardless of transaction location.
Breaches (e.g., contravening or circumventing sanctions) are criminal offenses: up to 6 months imprisonment or ~US$5,000 fine (summary conviction); up to 7 years imprisonment or unlimited fine (indictment).
BVI Sanctions Orders: Listed on BVI FIA and FSC.
Virgin Islands Sanctions Guidelines (2023): FIA PDF.
Anti-Money Laundering Regulations, 2008 (defines relevant persons/VASPs); Counter-Terrorism Act, 2021.
OFAC SDN List: sanctionssearch.ofac.treas.gov.
British Virgin Islands Financial Services Commission (FSC): Oversees all virtual asset service provider (VASP) registration, licensing, supervision, enforcement, and compliance monitoring, including AML/CFT obligations and transaction reporting.
Guidance on Regulation of Virtual Assets in the Virgin Islands: Issued by FSC in 2020 (updated contextually); clarifies application of existing laws pre-VASP Act. Available at bvifsc.vg/library/guidance-regulation-virtual-assets-virgin-islands-bvi.
Effective Date: Not explicitly dated in sources; requirements apply immediately to registered VASPs post-2023 amendments.
Technical Implementation Requirements: VASPs must implement controls for Travel Rule compliance, including documented AML/CFT policies, procedures, continuous customer due diligence (CDD), transaction monitoring, and sanctions screening within 24 hours (e.g., freezing assets, reporting). They must demonstrate reasonable steps for compliance and align with FATF's risk-based approach, reporting to the FSC and Financial Investigation Agency (FIA).
State Bank of Vietnam (SBV) — Financial oversight
Penalty Amount: Not yet finalized; investigation targets billions of dollars in mobilized funds and investor losses (preliminary estimates in billions of USD).
https://www.ainvest.com/news/vietnam-crypto-crackdown-flow-impact-domestic-exchange-ban-2603/
https://www.financemagnates.com/trending/us-sanctions-north-korea-it-worker-network-vietnam-firm-accused-of-laundering-25m-crypto/
Vietnam's national sanctions list published by the Ministry of Finance.
OFAC SDN Search: https://sanctionssearch.ofac.treas.gov
OFAC Programs: https://ofac.treasury.gov/sanctions-programs-and-country-information
State Bank of Vietnam (SBV) – Central bank ensuring financial stability and preventing crypto use as payment
Vietnam falls under "Countries That Have Initiated the FATF’s Travel Rule Process", indicating ongoing development of crypto regulations but no finalized Travel Rule legislation or mandates requiring VASPs to comply during transactions.
Globally, 85% of surveyed jurisdictions (covering ~98% of VASP activity) have enacted or are enacting the Travel Rule, but Vietnam is not confirmed in the "in place" category.
No specific effective date, threshold amounts (e.g., FATF's recommended $1,000/€1,000), VASPs covered, technical implementation requirements (such as data collection/retention standards or interoperability protocols), or penalties for non-compliance are detailed for Vietnam in available sources.
Financial Intelligence Centre Act (FICA), 2001 (as amended): Principal law governing AML/CFT, extended to CASPs via Schedule 1 amendments; mandates registration, risk management, and reporting.
Sanctions screening and transaction monitoring.
South African Reserve Bank (SARB): Monitors financial stability, handles exchange controls, and is developing a framework for cross-border crypto transactions following a May 2025 Pretoria High Court ruling (Standard Bank v SARB) that exempted crypto from 1961 rules.
UNVERIFIED: Enforcement details limited to covered jurisdictions like US (SEC/CFTC)
UNVERIFIED: No primary enforcement records from OJK or related bodies available in results.
Bolivia aligns with FATF recommendations in principle but has not implemented VASP-specific AML rules, leading to high-risk classification by international bodiesFATF Mutual Evaluation.
ASFI has issued multiple warnings and sanctions against crypto promoters and platforms for misleading advertising and unauthorized operationsASFI Enforcement Actions.
BCB enforces prohibitions through supervisory measures on banks, with ongoing monitoring for evasionBCB Supervisory Report.
ASFI issued regulations prohibiting financial institutions from dealing in cryptocurrencies, classifying them as high-risk assets[https://www.asfi.gob.bo/index.php/noticias/item/1088-asfi-prohibe-a-entidades-financieras-operar-con-criptomonedas]
Financial institutions must report transactions over certain thresholds to the Unidad de Investigaciones Financieras (UIF), but crypto is excluded due to ban[https://www.uif.gob.bo/]
ASFI enforces a strict ban, with penalties including fines and license revocation for non-compliance by financial institutions[https://www.asfi.gob.bo/index.php/noticias/item/1088-asfi-prohibe-a-entidades-financieras-operar-con-criptomonedas]
Banco Central de Bolivia (BCB) supports the prohibition, stating cryptocurrencies do not qualify as currency or payment method[https://www.bcb.gob.bo/?q=content/pronunciamiento-sobre-criptomonedas]
Chile has implemented a comprehensive framework via the 2023 Fintech Law (Law 21.521), expanding regulation to include virtual asset services7.
Bill C-15 proposes federal registration requirements for stablecoins with the Bank of Canada.3
Business Plan: A comprehensive business plan outlining proposed activities, target customers, and operational setup.
MAS Finalises Regulatory Framework for Single-Currency Stablecoins (Media Release, 2023)
Regulatory Body: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) oversees crypto activities as money services businesses (MSBs); provincial regulators like the Ontario Securities Commission (OSC) handle securities aspects; Bank of Canada proposed for stablecoin oversight via Bill C-15.
Licensing Requirements: Crypto firms register as MSBs with FINTRAC for fiat-crypto exchanges or transfers; additional provincial MSB or securities dealer registration (e.g., OSC in Ontario); stablecoin issuers must register with Bank of Canada under proposed Bill C-15.
Travel Rule Status: Implemented via FINTRAC's PCMLTFA updates; VASPs must collect and share originator/beneficiary info for transfers over CAD 1,000, aligning with FATF standards (full compliance since 2020, with 2023 enhancements). (Inferred from MSB rules; no explicit TFR equivalent but functionally equivalent.)
Key timeline: Law 27.739 (March 2024) defined PSAVs; phased CNV registration in 2025; full enforceability of AML/CFT and Travel Rule obligations on 31 December 2025; first compliance audit cycle from 1 January 2026.
Unregistered platforms face higher risks and lack oversight; traditional banks can offer crypto services from April 2026 under supervision.
Austrian National Bank (OeNB): Collaborates with FMA on supervision, researches financial stability impacts, and monitors crypto ownership via surveys.
Historical: FMA AML regulations (2020) under Fifth Money Laundering Directive (AMD5) required registration for exchanges, wallets, etc., with fines up to €200,000.
Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018 (ICO Act): Specifically governs ICOs and digital business assets.
No ban exists; the framework integrates crypto with traditional finance, such as reinsurance-linked stablecoins, and has hosted events like the world's first fully licensed USDC airdrop.
Examples include Jewel Bank (first with DABA and banking license) and firms like Onre under dual licenses.
BCEAO (Central Bank of West African States): Oversees regional monetary policy, payment systems, and fintech guidelines across WAEMU, including electronic money issuers under Instruction N°008-05-2015 to combat money laundering.
UEMOA Banking Commission (Commission Bancaire de l'UEMOA): Enforces BCEAO directives via inspections, sanctions, and collaboration on AML/CFT for financial institutions and fintechs.
None: No formal national or regional licensing framework or issued licenses for crypto businesses, VASPs, or exchanges.
21 Analytics global overview (lists Czech Republic as implemented).
Deutsche Bundesbank: The German central bank collaborates with BaFin on authorization and monitoring of crypto-related financial institutions, with focus on maintaining financial stability.
Danmarks Nationalbank: Monitors financial stability risks and can veto stablecoins pegged to the Danish krone under MiCA.
EU Markets in Crypto-Assets (MiCA): Forthcoming EU regulation formalizing crypto framework, implemented by Finanstilsynet; grants inspection powers.
Proposed 2025 bill: Requires crypto service providers to report client transaction details (effective ~2026-2027).
None identified for cryptocurrencies. General financial oversight may fall under bodies like the FSM Banking Board, but no crypto-specific authority is mentioned in available sources.
Technical Implementation Requirements: Originator VASPs must collect and securely transmit (before or alongside the transaction) originator and beneficiary information—such as names and account/wallet details—for transactions over the threshold involving another VASP or relevant financial business. Beneficiary VASPs must obtain and hold this data. Virtual assets are defined in the amended POCA as digital representations of value for payment/investment, excluding fiat digital representations and certain financial instruments.
2017: Croatian National Bank (HNB) states cryptocurrencies are not legal tender.
HNB (Croatian National Bank): Sets monetary policy, confirms crypto is not legal tender, and tests digital euro.
No "top 20" ranking exists in sources; lists are unranked. https://thebanks.eu/list-of-vasps/Ireland
Bank of Israel (BOI): Issued warnings on risks like fraud and money laundering (2014 statement); does not recognize crypto as legal tender (2018); handles temporary tax payment procedures for crypto profits when banks refuse funds due to AML concerns.
National Crypto Strategy Committee: Delivered an interim report in July (year unspecified, likely 2025) to the Knesset, proposing five pillars: centralized regulator, token issuance guidelines, banking integration, and more.
Supervision of Financial Services (Regulated Financial Services) Law 5776-2016: Defines "financial assets" to include virtual currency; mandates licenses from the Supervisor of Financial Services for related activities (e.g., for Israeli citizens/residents of legal age, not bankrupt).
Temporary Procedure (date unspecified): Allows tax payments on crypto profits from foreign accounts to BOI when Israeli banks refuse due to tracking/ML risks.
FIU-IND Specific AML/CFT Guidelines Post-Amendment: Unsupported. Sources cover global/EU/US/Georgia/NY DFS rules (e.g., BSA, 5AMLD, Part 504) but lack any reference to FIU-IND guidelines for VDA entities post-amendment.
Technical Implementation Requirements: VASPs must implement Transaction Monitoring systems, Blockchain Analytics tools, and Travel Rule solutions, with ongoing compliance status reporting to FIU-IND as per periodic guidelines; FIU-IND issued specific AML/CFT Guidelines for VDA-related reporting entities post-amendment.
Bank of Jamaica (BOJ) – the central bank overseeing monetary policy and financial regulation
Banking Services Act (BSA) – applies to cryptocurrencies classified as e-money
Central Bank of Kuwait (CBK): Prohibits the banking sector and regulated companies from trading in cryptocurrencies, facilitating related transactions, and accepting crypto for e-payments. The CBK also leads public awareness campaigns warning consumers about crypto risks.
Kuwait's Insurance Regulatory Unit: Issued a circular contributing to the nationwide prohibition and ensures insurance sector entities comply.
Ministry of Electricity: Supports enforcement by monitoring electrical grids to identify illegal crypto mining operations.
Trading: Banned entirely for payments and investments.
National Bank of Kazakhstan (NBK): Primary regulator for crypto exchanges, digital platforms, and unsecured digital assets nationwide; approves lists of permitted cryptocurrencies, sets operational limits, AML rules, and investor protections; licenses and supervises operators.
New Banking Law (Law on Banks and Banking Activities): Approved by parliament and expected signed early 2026; integrates cryptocurrencies and digital financial assets (DFAs) into mainstream finance, defines DFAs (stablecoins, backed assets, electronic instruments), licenses exchanges and platforms under NBK, recognizes digital tenge CBDC.