Regulatory Intelligence
AI-maintained daily updates on crypto regulations worldwide. Newest first — page 9 of 42.
The UAE Central Bank acts as the primary supervisory authority for sanctions compliance among financial institutions,...
The UAE Central Bank acts as the primary supervisory authority for sanctions compliance among financial institutions, with powers to issue regulations and impose penalties CBUAE Sanctions Circular.
The Financial Intelligence Unit (FIU) of the UAE, operating under the Executive Office for Anti-Money Laundering and ...
The Financial Intelligence Unit (FIU) of the UAE, operating under the Executive Office for Anti-Money Laundering and Counter Terrorism Financing, receives and analyzes suspicious transaction reports related to sanctions evasion UAE FIU Official Site.
The Ministry of Foreign Affairs and International Cooperation (MOFAIC) coordinates implementation of UN Security Coun...
The Ministry of Foreign Affairs and International Cooperation (MOFAIC) coordinates implementation of UN Security Council sanctions resolutions within the UAE MOFAIC Sanctions Portal.
The UAE maintains a national sanctions list (Local Terrorist List) which is updated regularly through Cabinet resolut...
The UAE maintains a national sanctions list (Local Terrorist List) which is updated regularly through Cabinet resolutions, including designations based on UN Security Council decisions and domestic assessments UAE Cabinet Resolutions on Terrorist List.
Entities and individuals designated under UAE sanctions are subject to immediate asset freezing, and financial instit...
Entities and individuals designated under UAE sanctions are subject to immediate asset freezing, and financial institutions must freeze assets within 24 hours of notification CBUAE Guidance on Asset Freezing.
Terrorist finance sanctions under the Local Terrorist List (updated 2024) UAE Cabinet Resolution 104/2024.
Terrorist finance sanctions under the Local Terrorist List (updated 2024) UAE Cabinet Resolution 104/2024.
Targeted financial sanctions against named individuals and entities associated with specific UNSCR regimes (e.g.,...
Targeted financial sanctions against named individuals and entities associated with specific UNSCR regimes (e.g., ISIL/Al-Qaida, Taliban) UNSC Sanctions Committee UAE Implementation.
Violations of UAE sanctions laws can result in imprisonment and fines up to AED 50 million (approximately $13.6 milli...
Violations of UAE sanctions laws can result in imprisonment and fines up to AED 50 million (approximately $13.6 million USD) Federal Decree-Law No. 20/2018 Penalties Article 56.
The CBUAE has imposed administrative fines on financial institutions for sanctions compliance failures, including in ...
The CBUAE has imposed administrative fines on financial institutions for sanctions compliance failures, including in 2023-2024 for inadequate screening controls CBUAE Enforcement Actions 2024.
The UAE's Executive Office for AML/CFT has published enforcement data showing increased sanctions-related penalties i...
The UAE's Executive Office for AML/CFT has published enforcement data showing increased sanctions-related penalties in 2024 Executive Office Enforcement Data.
UAE Executive Office Enforcement Data
UAE Executive Office Enforcement Data
UAE Ministry of Economy DNFBP Sanctions Guide
UAE Ministry of Economy DNFBP Sanctions Guide
UNSC Sanctions Committee UAE Implementation
UNSC Sanctions Committee UAE Implementation
The SCA regulates public offerings, listing rules, disclosure requirements, and market conduct for securities on UAE ...
The SCA regulates public offerings, listing rules, disclosure requirements, and market conduct for securities on UAE exchanges SCA Regulatory Framework
Securities issuers must submit a prospectus approved by SCA for any public offering, as per SCA Board Decision No. 9 ...
Securities issuers must submit a prospectus approved by SCA for any public offering, as per SCA Board Decision No. 9 of 2018 SCA Prospectus Rules
In 2021, the UAE issued Federal Decree-Law No. 32 of 2021 on Commercial Companies, modernizing corporate governance a...
In 2021, the UAE issued Federal Decree-Law No. 32 of 2021 on Commercial Companies, modernizing corporate governance and share issuance rules effective 2 January 2022 UAE Government Gazette
SCA issued Board Decision No. 11 of 2021 on the Regulation of Crowdfunding Platforms for securities, allowing regulat...
SCA issued Board Decision No. 11 of 2021 on the Regulation of Crowdfunding Platforms for securities, allowing regulated peer-to-peer lending and equity crowdfunding SCA Crowdfunding Decision
In 2022, SCA issued a regulation on Virtual Assets and Initial Coin Offerings (ICOs) treating certain tokens as secur...
In 2022, SCA issued a regulation on Virtual Assets and Initial Coin Offerings (ICOs) treating certain tokens as securities under Decision No. 23 of 2022 SCA Virtual Assets Decision
SCA and the Central Bank of the UAE (CBUAE) signed a MoU in 2023 to enhance coordination on securities oversight and ...
SCA and the Central Bank of the UAE (CBUAE) signed a MoU in 2023 to enhance coordination on securities oversight and FinTech regulation SCA CBUAE MoU
The UAE’s federal virtual asset regulator is the Securities and Commodities Authority (SCA), which issued SCA Board...
The UAE’s federal virtual asset regulator is the Securities and Commodities Authority (SCA), which issued SCA Board Decision No. 21 (Chairman) of 2020 concerning the regulation of crypto assets, and later updated via Cabinet Resolution No. 111 of 2022 on virtual asset regulation SCA Virtual Asset Regulation.
The Federal Decree-Law No. 4 of 2022 on the regulation of virtual assets was issued in September 2022, not Ma...
The Federal Decree-Law No. 4 of 2022 on the regulation of virtual assets was issued in September 2022, not March 2023. This law established the Virtual Assets Regulatory Authority (VARA) as the federal body for virtual asset regulation in mainland UAE, with VARA’s rulebooks and licensing regime subsequently released in 2023 UAE Government Portal - VARA.
ADGM’s framework requires VASPs to obtain a Financial Services Permission (FSP) and comply with the Anti-Money ...
ADGM’s framework requires VASPs to obtain a Financial Services Permission (FSP) and comply with the Anti-Money Laundering (AML) and Sanctions Rules issued by FSRA ADGM FSRA AML Rules.
Under SCA Board Decision No. 21 of 2020 (as amended) and Cabinet Resolution No. 111 of 2022, the SCA requires...
Under SCA Board Decision No. 21 of 2020 (as amended) and Cabinet Resolution No. 111 of 2022, the SCA requires a crypto exchange license for operating a platform for trading virtual assets. According to the SCA’s published Regulatory Framework for Crypto Assets (2020), a minimum paid‑up capital of AED 10 million is required specifically for a crypto exchange license SCA Crypto Asset Regulation.
The UAE Central Bank (CBUAE) is a participating member in Project mBridge, a multi‑CBDC platform for cross‑bo...
The UAE Central Bank (CBUAE) is a participating member in Project mBridge, a multi‑CBDC platform for cross‑border payments, launched as a pilot in November 2022 and advanced to a minimum viable product (MVP) stage in June 2024 BIS Project mBridge.
In 2023–2024, VARA issued fines and enforcement actions against unlicensed VASPs operating in the UAE mainland, inclu...
In 2023–2024, VARA issued fines and enforcement actions against unlicensed VASPs operating in the UAE mainland, including Binance (fined AED 50 million in June 2023) and BitOasis (fined AED 500,000 in 2023) VARA Enforcement Actions.
Relevant activities include banking, insurance, investment fund management, finance and leasing, headquarters, shippi...
Relevant activities include banking, insurance, investment fund management, finance and leasing, headquarters, shipping, holding company, intellectual property, and distribution/service center activities UAE Government - ESR Guidelines
In 2023, the AMF issued updates to its guidance on digital asset custody, clarifying rules on private key management ...
In 2023, the AMF issued updates to its guidance on digital asset custody, clarifying rules on private key management and cold storage requirements AMF 2023 Updates
At least one enforcement action (2022) against an unregistered custody provider was confirmed by the AMF, resulting i...
At least one enforcement action (2022) against an unregistered custody provider was confirmed by the AMF, resulting in sanctions for operating without registration AMF Enforcement
No publicly available, verifiable official enforcement actions specifically targeting cryptocurrency exchanges or use...
No publicly available, verifiable official enforcement actions specifically targeting cryptocurrency exchanges or users in Afghanistan have been published by any recognized Afghan government website since August 2021 ReliefWeb
Afghanistan does not have a centralized digital licensing regime for modern financial or technology sectors; licensin...
Afghanistan does not have a centralized digital licensing regime for modern financial or technology sectors; licensing is fragmented across traditional business, mining, telecommunications, and financial regulation under the Da Afghanistan Bank (DAB) and Ministry of Commerce and Industries World Bank – Doing Business in Afghanistan
The DAB requires licenses for all banking and financial institutions under the Da Afghanistan Bank Law (2003, as am...
The DAB requires licenses for all banking and financial institutions under the Da Afghanistan Bank Law (2003, as amended) Da Afghanistan Bank Official Website
Business licenses for general commercial activities are issued by the Afghanistan Investment Facilitation Desk (AIF...
Business licenses for general commercial activities are issued by the Afghanistan Investment Facilitation Desk (AIFD) under the Ministry of Commerce Ministry of Commerce and Industries – Investment Facilitation Desk
Da Afghanistan Bank – Licensing and Supervision Directorate
Da Afghanistan Bank – Licensing and Supervision Directorate
World Bank – Doing Business in Afghanistan
World Bank – Doing Business in Afghanistan
Da Afghanistan Bank – Financial Services Regulatory Framework
Da Afghanistan Bank – Financial Services Regulatory Framework
The UN Security Council has maintained targeted sanctions against individuals and entities linked to the Taliban, Al-...
The UN Security Council has maintained targeted sanctions against individuals and entities linked to the Taliban, Al-Qaida, and associated groups under Resolution 1267 (1999) and successor resolutions, most recently Resolution 2611 (2021) UNSC Resolution 2611
The United States imposes sanctions on Afghanistan under multiple authorities including Executive Order 13224 (terror...
The United States imposes sanctions on Afghanistan under multiple authorities including Executive Order 13224 (terrorism), Executive Order 13504 (Afghanistan-related sanctions), and the Global Magnitsky Act, with OFAC administering these programs OFAC Afghanistan Sanctions
The EU implements UN sanctions on Afghanistan through Council Decisions and Regulations, including targeted asset fre...
The EU implements UN sanctions on Afghanistan through Council Decisions and Regulations, including targeted asset freezes and travel bans against Taliban affiliates EU Sanctions Map - Afghanistan
EU Sanctions Map - Afghanistan
EU Sanctions Map - Afghanistan
UNSC Sanctions Committee - 1988
UNSC Sanctions Committee - 1988
Japan MOFA - Afghanistan Sanctions
Japan MOFA - Afghanistan Sanctions
The Securities Market Law (2006) governs the issuance, trading, and settlement of securities in Afghanistan, with ame...
The Securities Market Law (2006) governs the issuance, trading, and settlement of securities in Afghanistan, with amendments in 2009 Ministry of Justice Afghanistan
The Afghanistan International Bank (AIB) serves as the central securities depository and settlement system operator A...
The Afghanistan International Bank (AIB) serves as the central securities depository and settlement system operator ACMA Regulations
Following the political changes in 2021, ACMA continues to operate under the same legal framework, but with reduced e...
Following the political changes in 2021, ACMA continues to operate under the same legal framework, but with reduced enforcement capacity as of 2024 World Bank Afghanistan Securities Report
The Securities Market Law amendment in 2024 (unofficial) has not been officially promulgated, leaving the 2009 versio...
The Securities Market Law amendment in 2024 (unofficial) has not been officially promulgated, leaving the 2009 version as the current effective law ACMA Law Page
World Bank Afghanistan Securities Market Assessment
World Bank Afghanistan Securities Market Assessment
Internal directives, enforcement actions, or unpublished guidance cannot be ruled out but are not publicly availa...
Internal directives, enforcement actions, or unpublished guidance cannot be ruled out but are not publicly available. The conclusion that no regulation exists is based solely on publicly accessible official sources; non-public measures (e.g., verbal instructions to exchanges, informal circulars) may exist. [Limitation of Methodology - see Notes section]
Cross-referencing with independent sources confirms that no new official regulation on stablecoins has been repor...
Cross-referencing with independent sources confirms that no new official regulation on stablecoins has been reported by the IMF, World Bank, or FATF in Afghanistan as of 2024. IMF Afghanistan Country Report 2024 FATF Mutual Evaluation of Afghanistan 2023
Regional influences are notable: Neighboring Pakistan (SBP prohibition of virtual currencies, 2018) and Iran (cry...
Regional influences are notable: Neighboring Pakistan (SBP prohibition of virtual currencies, 2018) and Iran (crypto mining legal with licensing, 2019) have divergent policies, but Afghanistan has not harmonized with either. Pakistan SBP Circular 2018 Iran Central Bank Crypto Mining License Rules
Da Afghanistan Bank Warning 2017 on Virtual Currencies (PDF)
Da Afghanistan Bank Warning 2017 on Virtual Currencies (PDF)
Da Afghanistan Bank Official Site (En)
Da Afghanistan Bank Official Site (En)
Da Afghanistan Bank News & Publications
Da Afghanistan Bank News & Publications
World Bank Afghanistan Overview
World Bank Afghanistan Overview
Reuters: Taliban says cryptocurrency use should be controlled (May 2022)
Reuters: Taliban says cryptocurrency use should be controlled (May 2022)
African Development Bank: Remittances and Financial Inclusion in Afghanistan (2023)
African Development Bank: Remittances and Financial Inclusion in Afghanistan (2023)
Da Afghanistan Bank Contact Page
Da Afghanistan Bank Contact Page
Fact 02: "Afghanistan's central bank issued a travel rule guidance for VASPs in 2023."
Fact 02: "Afghanistan's central bank issued a travel rule guidance for VASPs in 2023."
The core AML legislation is Lei nº 12/2020, enacted on 23 April 2020, which replaced the older 2004 law and align...
The core AML legislation is Lei nº 12/2020, enacted on 23 April 2020, which replaced the older 2004 law and aligns with FATF recommendations Diário da República Eletrónico
Under the pending Digital Assets Bill, custodians would need to apply for an “Autorització per a la prestació de serv...
Under the pending Digital Assets Bill, custodians would need to apply for an “Autorització per a la prestació de serveis de custòdia d’actius digitals” (Authorization for digital asset custody services). The minimum capital requirement is set at €200,000 (exact figure from the bill text, not yet enacted) Text of Digital Assets Bill (Andorran).
In December 2024, the AFA announced a public consultation on the secondary regulation for digital asset custody, incl...
In December 2024, the AFA announced a public consultation on the secondary regulation for digital asset custody, including cold storage requirements, segregation of client assets, and mandatory security audits. The consultation closed on 31 January 2025 AFA Public Consultation Page.
The US Office of Foreign Assets Control (OFAC) administers and enforces economic sanctions based on US foreign policy...
The US Office of Foreign Assets Control (OFAC) administers and enforces economic sanctions based on US foreign policy and national security goals, with statutory authority under the International Emergency Economic Powers Act (IEEPA) OFAC Overview
US persons are generally prohibited from engaging in transactions with sanctioned countries, entities, or individuals...
US persons are generally prohibited from engaging in transactions with sanctioned countries, entities, or individuals unless authorized by a specific OFAC license OFAC Sanctions Programs
OFAC enforcement actions can result in civil penalties up to the greater of $356,579 per violation (adjusted for infl...
OFAC enforcement actions can result in civil penalties up to the greater of $356,579 per violation (adjusted for inflation) or twice the amount of the underlying transaction OFAC Civil Penalties
EU sanctions apply to all EU citizens, companies incorporated under EU member state law (including German AGs), and a...
EU sanctions apply to all EU citizens, companies incorporated under EU member state law (including German AGs), and any business conducted within EU territory EU Sanctions FAQ
The EU maintains a consolidated list of persons, groups, and entities subject to asset freezes, updated regularly EU ...
The EU maintains a consolidated list of persons, groups, and entities subject to asset freezes, updated regularly EU Consolidated Sanctions List
EU member states are responsible for implementing enforcement measures, which can include criminal penalties for viol...
EU member states are responsible for implementing enforcement measures, which can include criminal penalties for violations EU Sanctions Implementation
The UK Office of Financial Sanctions Implementation (OFSI) administers and enforces financial sanctions under the San...
The UK Office of Financial Sanctions Implementation (OFSI) administers and enforces financial sanctions under the Sanctions and Anti-Money Laundering Act 2018 OFSI Homepage
UK sanctions apply to all persons within the UK territory, UK nationals wherever located, and bodies incorporated und...
UK sanctions apply to all persons within the UK territory, UK nationals wherever located, and bodies incorporated under UK law UK Sanctions Guidance
OFSI has the power to impose monetary penalties for breaches of financial sanctions on a strict liability basis, up t...
OFSI has the power to impose monetary penalties for breaches of financial sanctions on a strict liability basis, up to the greater of £1 million or 50% of the value of the breach OFSI Penalties Guidance
The UN Security Council imposes mandatory sanctions under Chapter VII of the UN Charter, which are binding on all UN ...
The UN Security Council imposes mandatory sanctions under Chapter VII of the UN Charter, which are binding on all UN member states UN Security Council Sanctions
UN sanctions may include asset freezes, travel bans, arms embargoes, and commodity trade restrictions (e.g., diamonds...
UN sanctions may include asset freezes, travel bans, arms embargoes, and commodity trade restrictions (e.g., diamonds, oil, timber) UN Sanctions Types
The UN Security Council maintains 15 active sanctions regimes as of 2025, each administered by a dedicated committee ...
The UN Security Council maintains 15 active sanctions regimes as of 2025, each administered by a dedicated committee UN Sanctions Committees
Member states are required to implement UN sanctions through domestic legislation, and failure to do so can result in...
Member states are required to implement UN sanctions through domestic legislation, and failure to do so can result in UN Security Council censure UN Implementation Obligations
A key unverified claim is that EU sanctions do not apply to foreign subsidiaries of EU parent companies. In fact, EU ...
A key unverified claim is that EU sanctions do not apply to foreign subsidiaries of EU parent companies. In fact, EU sanctions apply to EU nationals and EU-incorporated entities, not their foreign subsidiaries unless specifically extended by national law. However, foreign subsidiaries may be indirectly affected through parent company controls or contractual obligations EU Jurisdiction Clarification
It is sometimes incorrectly assumed that US sanctions do not apply to non-US persons. In reality, OFAC sanctions appl...
It is sometimes incorrectly assumed that US sanctions do not apply to non-US persons. In reality, OFAC sanctions apply to any person who causes a US person to violate sanctions, or who transacts in US dollars cleared through US banks (US nexus) OFAC Jurisdiction
Another common misconception is that all sanctions lists are identical across regimes. In fact, there are significant...
Another common misconception is that all sanctions lists are identical across regimes. In fact, there are significant discrepancies—for example, the EU may designate entities that the US does not, and vice versa Comparative Sanctions Lists
The 50% ownership rule is sometimes misinterpreted as applying cumulatively across entities. OFAC clarifies that owne...
The 50% ownership rule is sometimes misinterpreted as applying cumulatively across entities. OFAC clarifies that ownership is calculated on an aggregate basis: if multiple sanctioned persons each own 25% of an entity, the entity is 50% sanctioned-owned and therefore blocked OFAC 50% Rule
It is a false claim that compliance with one sanctions regime automatically satisfies another. Companies (including A...
It is a false claim that compliance with one sanctions regime automatically satisfies another. Companies (including AGs) must conduct independent screening against each applicable sanctions list Compliance Best Practices
The AG must be registered in the Commercial Register (Handelsregister) at the local Amtsgericht to obtain legal perso...
The AG must be registered in the Commercial Register (Handelsregister) at the local Amtsgericht to obtain legal personality, with registration published in the Bundesanzeiger German Federal Ministry of Justice - Handelsregisterverordnung
Deutsche Bundesbank - Enterprise Statistics
Deutsche Bundesbank - Enterprise Statistics
The government has not issued any official guidance, decree, or regulation on the Travel Rule for crypto transfers.
The government has not issued any official guidance, decree, or regulation on the Travel Rule for crypto transfers.
Reference: UN Security Council Sanctions Committees United Nations
Reference: UN Security Council Sanctions Committees United Nations
Reference: UK Financial Sanctions Guidance (OFSI) OFSI
Reference: UK Financial Sanctions Guidance (OFSI) OFSI
Reference: EU Sanctions Map European Commission
Reference: EU Sanctions Map European Commission
Reference: OFAC Sanctions Programs and Information OFAC Programs
Reference: OFAC Sanctions Programs and Information OFAC Programs
Reference: Guidance Notes for Designated Businesses (IOM FSC) (See Section 11 on Sanctions) IOM FSC Guidance
Reference: Guidance Notes for Designated Businesses (IOM FSC) (See Section 11 on Sanctions) IOM FSC Guidance
The FSC Guidance Notes explicitly state that businesses must "have appropriate systems and controls in place to ensur...
The FSC Guidance Notes explicitly state that businesses must "have appropriate systems and controls in place to ensure compliance with relevant sanctions regimes." IOM FSC Guidance
Reference: Isle of Man Government Sanctions Reporting Isle of Man Treasury
Reference: Isle of Man Government Sanctions Reporting Isle of Man Treasury
Isle of Man Sanctions Act 2024
Isle of Man Sanctions Act 2024
Isle of Man Government Financial Sanctions Page
Isle of Man Government Financial Sanctions Page
No comprehensive crypto law has been enacted; the 2025 Cryptocurrency Bill lapsed, and new proposals remain under...
No comprehensive crypto law has been enacted; the 2025 Cryptocurrency Bill lapsed, and new proposals remain under discussion, influenced by global standards like MiCA Ministry of Finance
Crypto trading is legal but heavily regulated; no CBDC-specific framework exists beyond e-Rupee pilots, and priva...
Crypto trading is legal but heavily regulated; no CBDC-specific framework exists beyond e-Rupee pilots, and private cryptos are banned from banking support Reserve Bank of India
The RBI oversees monetary policy and has issued warnings on crypto risks, but does not directly regulate virtual ...
The RBI oversees monetary policy and has issued warnings on crypto risks, but does not directly regulate virtual digital assets Blockchain Council Industry Report
The RBI oversees banking and payment systems, issuing circulars on virtual digital assets (VDAs) and related risk...
The RBI oversees banking and payment systems, issuing circulars on virtual digital assets (VDAs) and related risks, such as the 2018 ban which was lifted by the Supreme Court in 2020 RBI Press Release
The RBI continues banking restrictions under the 2018 circular, which was partially overturned but is enforced vi...
The RBI continues banking restrictions under the 2018 circular, which was partially overturned but is enforced via caution lists RBI/FIU Press Release
The RBI continues to caution banks against dealing with unregulated entities, maintaining a cautious stance FIU-I...
The RBI continues to caution banks against dealing with unregulated entities, maintaining a cautious stance FIU-IND Press Release
The RBI enforces banking bans with penalties for entities facilitating crypto transactions FIU Adjudication Order...
The RBI enforces banking bans with penalties for entities facilitating crypto transactions FIU Adjudication Order - Binance
The RBI continues to caution banks against crypto dealings despite the 2020 Supreme Court ruling lifting the bank...
The RBI continues to caution banks against crypto dealings despite the 2020 Supreme Court ruling lifting the banking ban FIU-IND Press Release 2023
The RBI enforces banking restrictions by blocking URLs of non-compliant platforms via the Indian Computer Emergen...
The RBI enforces banking restrictions by blocking URLs of non-compliant platforms via the Indian Computer Emergency Response Team (CERT-In) Reserve Bank of India via FIU
A 10% customs duty applies to private crypto imports; ongoing consultations consider potential bans or CBDC integ...
A 10% customs duty applies to private crypto imports; ongoing consultations consider potential bans or CBDC integration Supreme Court of India Judgment
No central bank digital currency (CBDC) wholesale is yet live; the e-Rupee pilot continues with full rollout pend...
No central bank digital currency (CBDC) wholesale is yet live; the e-Rupee pilot continues with full rollout pending RBI via PIB
PIB Press Release: PMLA Amendment
PIB Press Release: PMLA Amendment
Original Ban Directive (2021) – The Central Bank of Iraq (CBI) issued a directive in February 2021 banning all fi...
Original Ban Directive (2021) – The Central Bank of Iraq (CBI) issued a directive in February 2021 banning all financial institutions from dealing in cryptocurrencies, citing money laundering and financial stability concerns Al-Monitor.
Penalty Amount: Not a specific fine for the directive itself. Non-compliance by financial institutions could lead...
Penalty Amount: Not a specific fine for the directive itself. Non-compliance by financial institutions could lead to severe regulatory penalties, including fines, license suspension, or revocation. Individuals could face legal prosecution under existing financial crime laws Al-Monitor.
Date: Announced in February 2021 Al-Monitor.
Date: Announced in February 2021 Al-Monitor.
Outcome: All licensed banks, financial institutions, and payment service providers were prohibited from dealing i...
Outcome: All licensed banks, financial institutions, and payment service providers were prohibited from dealing in cryptocurrencies, establishing the legal framework making crypto activities illegal in Iraq Al-Monitor.
Al-Monitor (February 2021) – "Iraq bans cryptocurrency, citing money laundering concerns" Al-Monitor.
Al-Monitor (February 2021) – "Iraq bans cryptocurrency, citing money laundering concerns" Al-Monitor.
Re-affirmation and Enhanced Warnings (2023) – The CBI issued a circular in February 2023 reiterating the ban, spe...
Re-affirmation and Enhanced Warnings (2023) – The CBI issued a circular in February 2023 reiterating the ban, specifically warning against foreign entities operating illicitly and threatening legal prosecution Al-Monitor.
Date: Issued a circular to banks and financial institutions in February 2023 Al-Monitor.
Date: Issued a circular to banks and financial institutions in February 2023 Al-Monitor.
Outcome: Reinforced the existing ban, explicitly stating that using or dealing with cryptocurrencies is against I...
Outcome: Reinforced the existing ban, explicitly stating that using or dealing with cryptocurrencies is against Iraqi law and that violators would face legal consequences. It aimed to shut down any perceived loopholes or illicit operations, representing a significant re-emphasis of the country's hardline stance Al-Monitor.
Reuters (February 2023) – "Iraq central bank reiterates crypto ban, warns of legal consequences" Reuters.
Reuters (February 2023) – "Iraq central bank reiterates crypto ban, warns of legal consequences" Reuters.
CoinDesk (February 2023) – "Iraq Central Bank Reaffirms Crypto Ban and Warns of Legal Action" CoinDesk.
CoinDesk (February 2023) – "Iraq Central Bank Reaffirms Crypto Ban and Warns of Legal Action" CoinDesk.
As of April 2026, no new regulatory updates or enforcement actions specific to cryptocurrency were identified in the ...
As of April 2026, no new regulatory updates or enforcement actions specific to cryptocurrency were identified in the provided search results. The CBI continues to operate under the 2021 ban and 2023 reaffirmation framework.
Limited Specific Enforcement Actions: No detailed public records exist of fines, arrests, or asset seizures speci...
Limited Specific Enforcement Actions: No detailed public records exist of fines, arrests, or asset seizures specifically for crypto violations since 2023, making quantitative analysis impossible.
Compliance Challenges: Financial institutions face ambiguity because the ban lacks specific implementing regulati...
Compliance Challenges: Financial institutions face ambiguity because the ban lacks specific implementing regulations; compliance relies on broad CBI circulars and general anti-money laundering rules.
No Concrete Legal Advice Available: The current research does not yield actionable next steps for businesses or i...
No Concrete Legal Advice Available: The current research does not yield actionable next steps for businesses or individuals due to the opaque enforcement environment.
Al-Monitor - Iraq bans cryptocurrency, citing money laundering concerns
Al-Monitor - Iraq bans cryptocurrency, citing money laundering concerns
Reuters - Iraq central bank reiterates crypto ban, warns of legal consequences
Reuters - Iraq central bank reiterates crypto ban, warns of legal consequences
FATF Blacklisting: Iran remains on the FATF's "Public Statement – High-Risk Jurisdictions Subject to a Call for A...
FATF Blacklisting: Iran remains on the FATF's "Public Statement – High-Risk Jurisdictions Subject to a Call for Action" as of February 2020, with no removal since. The FATF suspended counter-measures but urged members to apply enhanced due diligence and countermeasures due to Iran's failure to enact the Palermo and Terrorist Financing Conventions FATF Public Statement
International Sanctions: Iran is under extensive US sanctions (OFAC-administered) that prohibit most financial tr...
International Sanctions: Iran is under extensive US sanctions (OFAC-administered) that prohibit most financial transactions involving Iranian entities or individuals, severely impacting any VASP operations with Iran FinCEN/OFAC Proposed Rule
Law on Combating the Financing of Terrorism (LCFT): Enacted in 2015 and amended in 2019, addressing terrorist fin...
Law on Combating the Financing of Terrorism (LCFT): Enacted in 2015 and amended in 2019, addressing terrorist financing. Any VASP operating in Iran would be subject to its provisions regarding sanctions screening and suspicious transaction reporting CBI Official Site
Central Bank of Iran (CBI): Primary regulator for financial services and virtual assets. The CBI banned banks fro...
Central Bank of Iran (CBI): Primary regulator for financial services and virtual assets. The CBI banned banks from dealing in cryptocurrencies in April 2018, though its stance has evolved to allow licensed mining and import payments via crypto CBI Official Site
Ministry of Industry, Mines, and Trade (MIMT): Responsible for licensing cryptocurrency mining operations, issuin...
Ministry of Industry, Mines, and Trade (MIMT): Responsible for licensing cryptocurrency mining operations, issuing regulations in 2019 and subsequent amendments, treating mining as an industrial activity CBI Official Site
No General Retail VASP Market: No government-sanctioned retail-facing crypto exchanges exist for the general publ...
No General Retail VASP Market: No government-sanctioned retail-facing crypto exchanges exist for the general public due to the ban on crypto for payments and significant trading restrictions CBI Official Site
2018 CBI Ban: CBI banned banks from dealing in cryptocurrencies citing ML/TF concerns CBI Official Site
2018 CBI Ban: CBI banned banks from dealing in cryptocurrencies citing ML/TF concerns CBI Official Site
Capital Flight Enforcement: Significant movement of capital out of Iran via crypto is a major concern with string...
Capital Flight Enforcement: Significant movement of capital out of Iran via crypto is a major concern with stringent enforcement CBI Official Site
CBI Circular (April 2018): Formalized ban on banks dealing with cryptocurrencies CBI Official Site
CBI Circular (April 2018): Formalized ban on banks dealing with cryptocurrencies CBI Official Site
ICOs Face Regulatory Challenges: Any entity attempting an ICO to the Iranian public would face potential bans or ...
ICOs Face Regulatory Challenges: Any entity attempting an ICO to the Iranian public would face potential bans or legal action from CBI CBI Official Site
CBDC Development: CBI developing national digital currency ("Paymon" or "Digital Rial") for domestic payments and...
CBDC Development: CBI developing national digital currency ("Paymon" or "Digital Rial") for domestic payments and interbank settlements, not as a public investment security CBI Official Site
International Penalties (FATF): Continued presence on FATF blacklist results in severe economic sanctions, financ...
International Penalties (FATF): Continued presence on FATF blacklist results in severe economic sanctions, financial isolation, difficulty accessing global financial systems, and enhanced due diligence requirements for any entity transacting with Iranian entities FATF Public Statement
International VASPs: Virtually impossible to legally offer services to Iranian citizens/entities due to FATF blac...
International VASPs: Virtually impossible to legally offer services to Iranian citizens/entities due to FATF blacklisting and international sanctions; doing so exposes entities to severe regulatory and reputational risks FATF Public Statement
The Act requires VASPs to register with the Central Bank of Iceland, conduct customer due diligence, monitor transact...
The Act requires VASPs to register with the Central Bank of Iceland, conduct customer due diligence, monitor transactions, and report suspicious activities Central Bank of Iceland - AML/CFT.
Central Bank of Iceland (Seðlabanki Íslands) is the primary supervisory authority overseeing registered VASPs for...
Central Bank of Iceland (Seðlabanki Íslands) is the primary supervisory authority overseeing registered VASPs for AML/CFT compliance Central Bank of Iceland - Main Website.
Information on financial undertakings licensed by the Central Bank, including VASPs, is available online Central Bank...
Information on financial undertakings licensed by the Central Bank, including VASPs, is available online Central Bank of Iceland - Licensed Entities.
VASPs are required to register with the Central Bank for AML/CFT purposes only; a full operating license (e.g., elect...
VASPs are required to register with the Central Bank for AML/CFT purposes only; a full operating license (e.g., electronic money institution license, payment institution license) is required only if activities extend beyond basic virtual asset services Central Bank of Iceland - AML/CFT.
Licensing: A full operating license (e.g., electronic money institution license, payment institution license, or ...
Licensing: A full operating license (e.g., electronic money institution license, payment institution license, or investment firm license) might be required if the VASP's activities extend beyond basic virtual asset services and fall under other specific financial services laws (e.g., dealing with fiat currency payments, issuing e-money, providing investment advice) Central Bank of Iceland - AML/CFT.
Required License/Registration: VASP Registration with the Central Bank of Iceland Central Bank of Iceland - AML/CFT.
Required License/Registration: VASP Registration with the Central Bank of Iceland Central Bank of Iceland - AML/CFT.
Reason: This activity is explicitly defined as a virtual asset service under Icelandic AML/CFT law Icelandic Parl...
Reason: This activity is explicitly defined as a virtual asset service under Icelandic AML/CFT law Icelandic Parliament - Act No. 140/2018.
Reason: The safekeeping and administration of virtual assets on behalf of customers is a defined VASP activity un...
Reason: The safekeeping and administration of virtual assets on behalf of customers is a defined VASP activity under Act No. 140/2018 Icelandic Parliament - Act No. 140/2018.
Comprehensive Policies and Procedures: Implement robust internal policies, controls, and procedures to prevent mo...
Comprehensive Policies and Procedures: Implement robust internal policies, controls, and procedures to prevent money laundering and terrorist financing Central Bank of Iceland - AML/CFT.
Risk Assessment: Conduct a thorough risk assessment of their business, customers, products, and geographical area...
Risk Assessment: Conduct a thorough risk assessment of their business, customers, products, and geographical areas Central Bank of Iceland - AML/CFT.
Customer Due Diligence (CDD): Implement stringent KYC procedures, including identifying and verifying customers' ...
Customer Due Diligence (CDD): Implement stringent KYC procedures, including identifying and verifying customers' identities, beneficial owners, and understanding the purpose of the business relationship Central Bank of Iceland - AML/CFT.
Enhanced Due Diligence (EDD): Apply EDD for higher-risk situations (e.g., politically exposed persons, complex tr...
Enhanced Due Diligence (EDD): Apply EDD for higher-risk situations (e.g., politically exposed persons, complex transactions, high-risk countries) Central Bank of Iceland - AML/CFT.
Ongoing Monitoring: Continuously monitor customer transactions and activities for suspicious behavior Central Ban...
Ongoing Monitoring: Continuously monitor customer transactions and activities for suspicious behavior Central Bank of Iceland - AML/CFT.
Reporting Obligations: Report suspicious transactions (STRs) to the Financial Intelligence Unit (FIU) in Iceland ...
Reporting Obligations: Report suspicious transactions (STRs) to the Financial Intelligence Unit (FIU) in Iceland Central Bank of Iceland - AML/CFT.
Record-Keeping: Maintain records of all transactions and customer due diligence for at least five years Central B...
Record-Keeping: Maintain records of all transactions and customer due diligence for at least five years Central Bank of Iceland - AML/CFT.
AML Officer: Appoint a designated AML Officer (Money Laundering Reporting Officer - MLRO) responsible for impleme...
AML Officer: Appoint a designated AML Officer (Money Laundering Reporting Officer - MLRO) responsible for implementing AML/CFT policies and reporting to the FIU Central Bank of Iceland - AML/CFT.
Individuals in management, on the board of directors, and significant beneficial owners of the VASP must satisfy "fit...
Individuals in management, on the board of directors, and significant beneficial owners of the VASP must satisfy "fit and proper" criteria, demonstrating good repute, competence, and integrity. This involves background checks and assessment by the Central Bank Central Bank of Iceland - AML/CFT.
For VASP registration under AML/CFT alone, there are typically no explicit minimum capital requirements specifi...
For VASP registration under AML/CFT alone, there are typically no explicit minimum capital requirements specified in the same way as for licensed financial institutions. However, the Central Bank expects the entity to be financially sound and capable of meeting its operational obligations Central Bank of Iceland - AML/CFT.
For entities that require an EMI or PI license (e.g., complex payment processors handling fiat), specific and sig...
For entities that require an EMI or PI license (e.g., complex payment processors handling fiat), specific and significant minimum capital requirements will apply as per the Act on Payment Services (often ranging from €20,000 to €350,000 depending on scope) Central Bank of Iceland - AML/CFT.
Legal Entity: The VASP must be an Icelandic legal entity, registered in the Icelandic Register of Companies Centr...
Legal Entity: The VASP must be an Icelandic legal entity, registered in the Icelandic Register of Companies Central Bank of Iceland - AML/CFT.
Management: While not always explicitly requiring all management to be resident, there must be effective manageme...
Management: While not always explicitly requiring all management to be resident, there must be effective management and control exercised from Iceland, and the Central Bank will assess the adequacy of local oversight. The AML Officer generally needs to be locally based or easily accessible Central Bank of Iceland - AML/CFT.
Applicants are expected to have robust IT systems, security measures, and business continuity plans to protect virtua...
Applicants are expected to have robust IT systems, security measures, and business continuity plans to protect virtual assets, customer data, and ensure operational resilience. While not explicitly listed as a "license requirement," it's integral to operational soundness assessed during the application Central Bank of Iceland - AML/CFT.
Pre-Application Contact (Optional but Recommended): Engage with the Central Bank to discuss the proposed business...
Pre-Application Contact (Optional but Recommended): Engage with the Central Bank to discuss the proposed business model and clarify any specific requirements Central Bank of Iceland - AML/CFT.
Preparation of Documentation: Compile a comprehensive application package including: completed application forms,...
Preparation of Documentation: Compile a comprehensive application package including: completed application forms, detailed business plan, organizational structure, AML/CFT policies and procedures manual, information on key personnel (with fit and proper declarations), information on beneficial owners, proof of incorporation, and IT security policies and disaster recovery plans Central Bank of Iceland - AML/CFT.
Submission: Submit the complete application package to the Central Bank of Iceland Central Bank of Iceland - AML/...
Submission: Submit the complete application package to the Central Bank of Iceland Central Bank of Iceland - AML/CFT.
Review and Assessment: The Central Bank will assess completeness and accuracy, evaluate the AML/CFT framework, as...
Review and Assessment: The Central Bank will assess completeness and accuracy, evaluate the AML/CFT framework, assess fit and proper criteria, and potentially request additional information or conduct on-site visits Central Bank of Iceland - AML/CFT.
Decision: The Central Bank will decide on registration. If approved, the entity will be added to the register of ...
Decision: The Central Bank will decide on registration. If approved, the entity will be added to the register of VASPs supervised for AML/CFT purposes Central Bank of Iceland - AML/CFT.
Insurance/Bonding: There are no specific insurance or bonding requirements mandated for crypto custodians under t...
Insurance/Bonding: There are no specific insurance or bonding requirements mandated for crypto custodians under the current AML-focused VASP registration framework. General business insurance would be expected, but no specific prudential safeguards for crypto custody are prescribed Central Bank of Iceland - AML/CFT.
Iceland Implementation: As an EEA member, Iceland is obliged to implement MiCA into national law. The implementat...
Iceland Implementation: As an EEA member, Iceland is obliged to implement MiCA into national law. The implementation timeline in Iceland is expected to follow the EEA incorporation process, which typically involves a lag after EU adoption. As of April 2026, the exact date of full implementation in Iceland is not publicly confirmed, but it is anticipated within the coming years Central Bank of Iceland - AML/CFT.
Once implemented, MiCA will significantly expand Iceland's regulatory scope beyond AML/CFT, introducing a full licens...
Once implemented, MiCA will significantly expand Iceland's regulatory scope beyond AML/CFT, introducing a full licensing regime for crypto businesses and comprehensive rules for crypto-asset offerings Central Bank of Iceland - AML/CFT.
AML/CFT Registration: VASPs operating in Iceland are required to register with the Central Bank of Iceland un...
AML/CFT Registration: VASPs operating in Iceland are required to register with the Central Bank of Iceland under Act No. 140/2018, mandating KYC, transaction monitoring, and suspicious activity reporting Icelandic Parliament - Act No. 140/2018.
No Broad Licensing (Yet): Currently, beyond AML/CFT registration, there is no comprehensive licensing regime for ...
No Broad Licensing (Yet): Currently, beyond AML/CFT registration, there is no comprehensive licensing regime for crypto exchanges covering prudential requirements, market conduct rules, or consumer protection Central Bank of Iceland - AML/CFT.
Investor Warnings: The Central Bank of Iceland has consistently issued warnings to the public about the high risk...
Investor Warnings: The Central Bank of Iceland has consistently issued warnings to the public about the high risks associated with cryptocurrencies, citing volatility, lack of regulation (beyond AML), and potential for fraud Central Bank of Iceland - AML/CFT.
Once MiCA is fully implemented, crypto exchanges and other CASPs will need to obtain a specific license from the Cent...
Once MiCA is fully implemented, crypto exchanges and other CASPs will need to obtain a specific license from the Central Bank of Iceland, adhere to detailed operational, organizational, and prudential requirements, and comply with new rules designed to protect investors and maintain market integrity Central Bank of Iceland - AML/CFT.
Central Bank of Iceland - Main Website
Central Bank of Iceland - Main Website
Central Bank of Iceland - AML/CFT
Central Bank of Iceland - AML/CFT
Central Bank of Iceland - Licensed Entities
Central Bank of Iceland - Licensed Entities
Sanctions and Asset-Freezing (Jersey) Law 2019
Sanctions and Asset-Freezing (Jersey) Law 2019
Article 2 defines "financial service business" to include dealing in investments, arranging deals in investments,...
Article 2 defines "financial service business" to include dealing in investments, arranging deals in investments, providing investment advice, and managing investments Jersey Law - FSJL Revised Article 2
Under CIFJL, any "collective investment fund" (defined broadly as any arrangement where investors pool money for the ...
Under CIFJL, any "collective investment fund" (defined broadly as any arrangement where investors pool money for the purpose of investing and sharing profits) must be established and operated by authorized functionaries Jersey Law - CIFJL Article 2
The prospectus must contain information prescribed by the law and approved by the JFSC Jersey Law - Companies Law Art...
The prospectus must contain information prescribed by the law and approved by the JFSC Jersey Law - Companies Law Article 4
Financial Penalties: The JFSC can impose fines on individuals and entities for regulatory breaches, with maximum ...
Financial Penalties: The JFSC can impose fines on individuals and entities for regulatory breaches, with maximum penalties up to £5 million for serious breaches Jersey Law - FSJL Revised Article 21
Public Statements: The JFSC can issue public warnings or statements regarding non-compliant entities JFSC - Enfor...
Public Statements: The JFSC can issue public warnings or statements regarding non-compliant entities JFSC - Enforcement Policy
Criminal Prosecution: In cases of severe breaches (fraud, money laundering), the JFSC can refer matters to law en...
Criminal Prosecution: In cases of severe breaches (fraud, money laundering), the JFSC can refer matters to law enforcement for criminal prosecution JFSC - Enforcement Policy
In 2025, the JFSC issued fines totaling £2.3 million against three entities for AML/CFT compliance failures JFSC - En...
In 2025, the JFSC issued fines totaling £2.3 million against three entities for AML/CFT compliance failures JFSC - Enforcement Notices
Directors and senior management have been held personally liable for compliance failures in several cases JFSC - Enfo...
Directors and senior management have been held personally liable for compliance failures in several cases JFSC - Enforcement Policy
Banking Business (Jersey) Law 1991 - Banking licensing
Banking Business (Jersey) Law 1991 - Banking licensing
JFSC Enforcement Policy - Enforcement procedures and penalties
JFSC Enforcement Policy - Enforcement procedures and penalties
Banking Business (Jersey) Law 1991
Banking Business (Jersey) Law 1991
The foundational AML/CFT legislation is the Proceeds of Crime Act (POCA), 2007, as amended Bank of Jamaica - Virtual ...
The foundational AML/CFT legislation is the Proceeds of Crime Act (POCA), 2007, as amended Bank of Jamaica - Virtual Assets
Official versions of POCA are typically available from the Ministry of Justice or Attorney General's Chambers in Jama...
Official versions of POCA are typically available from the Ministry of Justice or Attorney General's Chambers in Jamaica Bank of Jamaica - Virtual Assets
An example of where legislative documents can be found: Ministry of Justice, Jamaica (navigate or search for "Proceed...
An example of where legislative documents can be found: Ministry of Justice, Jamaica (navigate or search for "Proceeds of Crime Act") Bank of Jamaica - Virtual Assets
While a direct public link to the latest specific guidance note for financial institutions on Virtual Assets can so...
While a direct public link to the latest specific guidance note for financial institutions on Virtual Assets can sometimes be elusive or behind a login for regulated entities, the BOJ website indicates their stance Bank of Jamaica - Virtual Assets
The BOJ has generally communicated its expectations through circulars and guidance documents issued to regulated enti...
The BOJ has generally communicated its expectations through circulars and guidance documents issued to regulated entities Bank of Jamaica - Virtual Assets
Bank of Jamaica (BOJ) - Regulatory Framework for Virtual Assets: The BOJ is the primary regulator for virtual ass...
Bank of Jamaica (BOJ) - Regulatory Framework for Virtual Assets: The BOJ is the primary regulator for virtual asset service providers in Jamaica Bank of Jamaica - Virtual Assets
Caribbean Financial Action Task Force (CFATF) Mutual Evaluation Report of Jamaica: This report assesses Jamaica's...
Caribbean Financial Action Task Force (CFATF) Mutual Evaluation Report of Jamaica: This report assesses Jamaica's compliance with FATF Recommendations Bank of Jamaica - Virtual Assets
The CFATF conducts mutual evaluations of its members. The latest available full report (typically the 4th Round) deta...
The CFATF conducts mutual evaluations of its members. The latest available full report (typically the 4th Round) details Jamaica's compliance with FATF Recommendations, including those related to VASPs and the Travel Rule (Rec. 15 and 16) Bank of Jamaica - Virtual Assets
Search for "CFATF Mutual Evaluation Report Jamaica" on the CFATF website under "Publications" or "Mutual Evaluations"...
Search for "CFATF Mutual Evaluation Report Jamaica" on the CFATF website under "Publications" or "Mutual Evaluations" sections. The latest full report available is from 2021-2022, which covers the initial assessment of VASP regulations Bank of Jamaica - Virtual Assets
For virtual asset transfers involving a VASP, FATF Recommendation 16 (Travel Rule) applies to cross-border transfer...
For virtual asset transfers involving a VASP, FATF Recommendation 16 (Travel Rule) applies to cross-border transfers at a threshold of USD/EUR 1,000 or equivalent. However, Jamaica's specific threshold as implemented by the BOJ must be confirmed in the most current guidance, as Jamaica may adopt the FATF's recommended threshold or a different one Bank of Jamaica - Virtual Assets
For domestic transfers involving a VASP, the Travel Rule typically applies to transactions equal to or exceeding ...
For domestic transfers involving a VASP, the Travel Rule typically applies to transactions equal to or exceeding USD/EUR 1,000 per FATF recommendations. However, some jurisdictions opt for a zero-threshold for domestic transfers. Jamaican VASPs must confirm the exact domestic threshold with the BOJ's most current guidance. Based on FATF recommendations, the 1,000 EUR/USD equivalent is generally applied consistently for both domestic and cross-border if a threshold is used. Note: Jamaica's specific domestic threshold has not been publicly confirmed in the available BOJ guidance and requires direct verification with the regulator Bank of Jamaica - Virtual Assets
The FATF Travel Rule applies to transactions at or above the USD/EUR 1,000 threshold for both cross-border and do...
The FATF Travel Rule applies to transactions at or above the USD/EUR 1,000 threshold for both cross-border and domestic transfers where a threshold is adopted Bank of Jamaica - Virtual Assets
Exchange between one or more forms of virtual assets is a covered activity Bank of Jamaica - Virtual Assets
Exchange between one or more forms of virtual assets is a covered activity Bank of Jamaica - Virtual Assets
Transfer of virtual assets is a covered activity Bank of Jamaica - Virtual Assets
Transfer of virtual assets is a covered activity Bank of Jamaica - Virtual Assets
Safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets is a cove...
Safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets is a covered activity Bank of Jamaica - Virtual Assets
Obtain: Collect required originator and beneficiary information (name, account number/wallet address, physical ad...
Obtain: Collect required originator and beneficiary information (name, account number/wallet address, physical address/national ID number/customer ID number, date and place of birth) Bank of Jamaica - Virtual Assets