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The Central Bank of the UAE this morning issued new guidance concerning AML and CFT measures for crypto businesses. The guidance outlines the risks arising from Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Compliance: Cryptocurrency businesses must adhere to strict AML and CTF measures, ensuring that digital The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for banks and other financial institutions dealing with The United Arab Emirates (UAE) Central Bank has taken a significant step in regulating the digital asset industry by issuing new anti-money laundering (AML) guidelines for financial institutions On Wednesday, May 31, the Central Bank of the UAE [CBUAE] announced that it has released a new set of AML and CTF guidelines for Licensed Financial Institutions [LFI] dealing in virtual The Joint Guidance provided in this document aligns with the Financial Action Task Force (FATF) publication on updated guidance for a risk-based approach to virtual assets and virtual asset The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for financial institutions when dealing with virtual assets, such as

UAE Central Bank Issues New AML & CTF Guidance for Crypto NFTs: What Institutions Need to Know

The Central Bank of the UAE this morning issued new guidance concerning AML and CFT measures for crypto businesses. This landmark decision impacts financial institutions dealing with virtual assets, including Crypto and NFTs. Understand the implications of the new rules and stay compliant.

New AML & CTF Guidance: Key Takeaways for Crypto Businesses in the UAE

The United Arab Emirates (UAE) Central Bank has taken a significant step in regulating the digital asset industry by issuing new anti-money laundering (AML) guidelines for financial institutions. On Wednesday, May 31, the Central Bank of the UAE [CBUAE] announced that it has released a new set of AML and CTF guidelines for Licensed Financial Institutions [LFI] dealing in virtual assets.

The guidance outlines the risks arising from Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF). Cryptocurrency businesses must adhere to strict AML and CTF measures, ensuring that digital asset transactions are transparent and compliant.

Understanding the Impact on Crypto and NFTs

The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for financial institutions when dealing with virtual assets, such as cryptocurrencies and Non-Fungible Tokens (NFTs). This includes heightened scrutiny of transactions involving crypto and NFT platforms.

FATF Alignment & Risk-Based Approach

The Joint Guidance provided in this document aligns with the Financial Action Task Force (FATF) publication on updated guidance for a risk-based approach to virtual assets and virtual asset service providers (VASPs). This ensures that the UAE's regulatory framework is in line with international best practices.

Staying Compliant with the New Regulations

The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for banks and other financial institutions dealing with virtual assets. Ensure your institution is fully compliant with these updated regulations to avoid penalties and maintain a strong reputation within the UAE's rapidly evolving crypto landscape.

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