Global Regulatory Library
- Public documents
- 222
- Jurisdictions covered
- 22
- Enforcement & cases
- 35
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Virtual asset designated services
The guidance identifies when virtual asset exchange, safekeeping and sale-related financial services are designated services under AML/CTF law, clarifying the scope for VASPs and other businesses.
Register with us as a remittance or virtual asset service provider
The guidance sets out registration duties, application steps, required information and ongoing compliance obligations for virtual asset service providers and remittance providers.
Collective engagement to implement the Crypto-Asset Reporting Framework
The release explains Australia's international engagement to implement the Crypto-Asset Reporting Framework and bring crypto-asset transactions within cross-border tax information exchange.
Payments licensing reforms
The page explains Australia's payments licensing reforms, including a proposed unified licensing and supervision framework for payment service providers and newer payment, wallet and digital settlement services.
ADGM digital assets framework: virtual assets, fiat-referenced tokens and digital securities
ADGM was the first financial centre in the region to introduce a comprehensive digital assets framework covering virtual assets, fiat-referenced tokens, digital securities, and derivatives and funds of digital assets; firms must obtain a Financial Services Permission from the FSRA.
ADGM guiding principles on its approach to virtual asset regulation and supervision
ADGM published guiding principles for its approach to virtual asset regulation and supervision, setting out its risk appetite and priorities across six pillars: a robust and transparent framework, high authorisation standards, AML/financial crime prevention, risk-sensitive supervision, enforcement powers and international cooperation.
DFSA Crypto Token framework: technology neutrality and token taxonomy
The DFSA has regulated Crypto Token activities in the DIFC since 2022, applying principles of alignment with international standards, technology neutrality, a clear regulatory perimeter and robust safeguards, with a token taxonomy determining regulatory treatment.
DFSA Policy Statement on Fiat Crypto Tokens
The DFSA issued a Policy Statement on Fiat Crypto Tokens and listed the fiat crypto tokens it has assessed as suitable: Circle Euro Coin (EURC), Circle USD Coin (USDC) and Ripple USD (RLUSD).
Bank Indonesia Digital Rupiah (Project Garuda): a CBDC, not a crypto asset or stablecoin
Bank Indonesia's Project Garuda develops the Digital Rupiah: it is a central bank digital currency (CBDC) issued by the central bank, a direct claim on the central bank, equal in value to the rupiah and not fluctuating against it; the central bank states explicitly that the Digital Rupiah is neither a crypto asset nor a stablecoin.
Crypto Platforms: Regulation and Enforcement Actions
The page consolidates Canadian securities regulators' registration, ongoing compliance, client-asset protection, disclosure and enforcement expectations for crypto asset trading platforms, together with authorised and restricted platform information.
SEC Thailand imposes civil sanctions for manipulation of SIX Network trading volume (2026)
The SEC announced civil sanctions against four offenders for manipulating the trading volume of the digital asset SIX Network (SIX): total civil monetary penalties of 6,579,595.40 baht and a prohibition for a specified period from trading digital assets on a digital asset exchange or participating in related activities.
FSC policy roadmap on digital transformation and tokenization of securities issuance and circulation (2026)
The FSC unveiled a roadmap to digitalise securities issuance and circulation: tokenisation proceeds in three phases from February 2027 with institutional MMFs, bonds and unlisted stocks via trust structures, with an on-chain payments infrastructure linked to stablecoins envisaged in the final stage.
Fourth joint anti-scam operation with digital payment token service providers
From 1 July to 31 August 2026, the Police and DPT service providers identified over 355 victims and prevented more than S$8.94 million in potential losses through blockchain analysis and information sharing.
Digital Currency in the Australian Context: An Update
The Reserve Bank of Australia and Treasury published an update on retail central bank digital currency research, covering public engagement results, retail payment developments and policy implications.
2026 consultation on legislative amendments for stablecoin regulation
On 1 September 2026 MAS consulted on legislative amendments to implement the single-currency stablecoin framework, including foreign issuance, recognition, stress testing, recovery, no interest and additional consumer safeguards.
Joint readout of UK and U.S. authorities regarding central counterparty resolution
The readout records a joint UK-U.S. meeting on central counterparty resolution, covering cross-border resolution planning, information sharing and rule coordination for derivatives clearing infrastructure.
Rules change approved to strengthen registration and anti-money laundering requirements of VASPs (August 2026)
The cabinet approved amendments to the Enforcement Decree of the Act on Reporting and Using Specified Financial Transaction Information, tightening VASP registration requirements and AML duties, including major shareholder suitability, change reporting and suspicious transaction management.
CFTC resolves actions against former Alameda CEO and FTX co-founder
The release records CFTC enforcement developments against the former Alameda Research CEO and related persons, covering fraud and misrepresentation claims under the Commodity Exchange Act.
CFTC requests comment on the listing of compute derivatives contracts
The release seeks public comment on exchange proposals to list compute-related derivative contracts, covering index reliability, susceptibility to manipulation, settlement benchmarks and market surveillance.
CS 32: Proposed relief for certain stablecoins and wrapped tokens and extension of omnibus accounts for digital asset custody
CS 32 consults on distribution relief for certain stablecoins and wrapped tokens, and an extension for omnibus account arrangements in digital asset custody, including conditions, duration and ongoing duties.
VARA notice of fines — Shelbit General Trading LLC
The notice records VARA's fines against Shelbit General Trading LLC, setting out the breaches, penalties and remediation requirements as part of ongoing supervision.
Modernising Payment Services Regulation: consultation (2026)
HM Treasury consulted on modernising payment services regulation, restructuring the payments and e-money institution regimes and addressing stablecoin and new settlement models.
Tax treatment of stablecoins: draft legislation (2026)
HM Treasury's draft legislation would treat eligible stablecoins more like money than assets for tax purposes, changing the capital gains and transaction tax outcomes.
New MiCAR crypto-asset service provider authorisation in Liechtenstein (July 2026)
The FMA announced that a provider has been authorised since 10 July 2026 under Article 63 MiCAR to provide crypto-asset services, covering the exchange of crypto-assets for funds and the provision of crypto-asset transfer services for clients.
End of the MiCAR transition period in Liechtenstein: TVTG registrations expired on 2 July 2026
The FMA announced that the MiCAR Article 143(3) transition period ended on 1 July 2026; under the TVTG transitional provisions amended by LGBl. 2025 No. 113, TVTG registrations for activities requiring MiCAR authorisation expired on 2 July 2026, the FMA register is being updated and MiCAR-authorised providers are listed in the ESMA register.
Authorisation under Article 60 MiCAR: a Liechtenstein bank authorised to provide crypto-asset services
The FMA announced that Kaiser Partner Privatbank AG (Vaduz) has been authorised since 29 June 2026 under Article 60(1) MiCAR to provide crypto-asset services including safekeeping and management of crypto-assets for clients, reception and transmission of orders, portfolio management and transfer services on behalf of clients.
Police advisory on malicious links and unauthorised crypto transactions
The Police warned about malware disguised as software updates and malicious permit-signature approvals that pre-authorise future crypto transactions, as well as event-themed token and ticketing scams.
CFTC charges Goliath Ventures Inc. and CEO with a $400 million fraud scheme
The release records CFTC fraud charges against Goliath Ventures and its CEO over crypto-related investment solicitation and misrepresentation, describing the solicitation, alleged use of funds and relief sought.
ESMA statement relayed by the FMA: providers without MiCAR authorisation must wind down in an orderly manner
The FMA relayed ESMA's statement on the end of the MiCAR transition period: from 1 July 2026 providers without a CASP licence must take immediate steps to wind down in an orderly manner, may not establish new business relationships, must limit services to what is necessary for existing relationships and must apply due diligence and sanctions requirements.
VARA notice of fines — Peken Global Limited (KuCoin)
The notice records VARA's fines against Peken Global Limited (KuCoin), linking the action to its earlier investor and marketplace alert and setting out the breaches and remediation required.
VARA notice of fines — MX Global Ltd (MEXC)
The notice records VARA's fines against MX Global Ltd (MEXC), setting out the breaches, penalties and the link to an earlier alert, adding to VARA's enforcement record against unlicensed offshore platforms.
VARA notice of fines — CoinMENA FZE
The notice records VARA's fines against the licensed firm CoinMENA FZE, setting out breaches found in ongoing supervision and the remediation required, showing penalties also apply to licence holders.
Criteria for registering payment service providers
The page sets out the statutory criteria the Bank of Canada applies when assessing payment service provider registration applications, including integrity, financial resources, risk management and compliance capability.
FSCA–SARB Joint Communication 1 of 2026: Crypto Assets for Domestic Payment Purposes
Issued by the FSCA and the National Payment System Department of the South African Reserve Bank, this joint communication clarifies the regulatory position where crypto assets are used for domestic payment purposes: how crypto assets declared a financial product under the FAIS Act are treated, how such payments relate to the National Payment System Act framework, and the compliance guidance for payment service providers, crypto asset service providers and users.
Former Hodlnaut CEO charged with fraud by false representation
The former CEO of Hodlnaut was charged on 26 May 2026 with six counts of fraud by false representation over 2022 statements about exposure to TerraUSD.
ADGM finalises the regulatory framework for staking of virtual assets (April 2026)
The ADGM FSRA finalised its regulatory framework for staking of virtual assets following Consultation Paper No. 10 of 2025, setting out which categories of Authorised Persons may stake clients' virtual assets and the requirements governing that activity.
Joint operation with cryptocurrency exchanges prevented over S$2.86 million in losses
From 16 March to 15 April 2026, the Police and several exchanges used blockchain analysis to identify scam victims and conducted over 90 direct interventions, preventing more than S$2.86 million in losses.
Policy note and draft SI amending the Cryptoassets Regulations (2026)
HM Treasury's policy note and draft instrument amend the Financial Services and Markets Act 2000 (Cryptoassets) Regulations, adjusting definitions, scope and supervisory connections.
UAE CMA Virtual Assets Framework: five core modules and eight regulated activities (April 2026)
The UAE Capital Market Authority issued a federal Virtual Assets Framework as a dedicated regulatory umbrella comprising five core modules: General Requirements, Conduct of Business, Alternative Trading System, AML/CFT, and Prudential Requirements.
Real-time balance reconciliation and enhanced internal control required for virtual asset exchanges (2026)
Following an erroneous payout incident, the FSC, the five major exchanges and DAXA announced improvement commitments: real-time balance reconciliation, routine checks of asset-ledger consistency, and stronger internal controls and user notifications for erroneous payments.
Canada’s Stablecoin Framework
The framework explains how Canada proposes to regulate fiat-backed stablecoin issuance, including prudential requirements, reserve and redemption safeguards, consumer protection and links to federal payments regulation.
VARA Exchange Services Rulebook
This rulebook sets operating requirements for virtual asset trading platforms, covering listing review, matching and transparency, client asset protection, market surveillance, system resilience and disclosure.
Rules change proposed on VASPs to strengthen registration and anti-money laundering duties (March 2026)
The FSC consulted on amendments to the Enforcement Decree of the Act on Reporting and Using Specified Financial Transaction Information and subordinate rules, focusing on VASP entry rules and AML duty details, paving the way for the August 2026 amendments.
KoFIU H2 2025 survey result on virtual asset service providers
KoFIU and the FSS surveyed 27 registered VASPs (18 exchanges and 9 custody and wallet providers), compiling market size, user and transaction data to support supervisory statistics and policy making.
Police advisory on the increase in scams involving crypto transfers
The Police warned that investment, job and government-official impersonation scams increasingly involve crypto transfers, with about S$182.2 million lost in 2025.
VARA consumer and marketplace alert — update on the real estate tokenisation pilot
The alert updates progress on Dubai's real estate tokenisation pilot and how to participate, warns about impersonation and false promotion, and sets out the compliance requirements for participation.
Notice on Further Preventing and Addressing Risks Related to Virtual Currencies and Other Activities
Yin Fa [2026] No. 42 and the regulator's official Q&A with the press.
KoFIU announces AML/CFT policy agendas for 2026
KoFIU set out its 2026 AML/CFT policy agendas at the policy advisory committee, covering virtual asset risk monitoring, improving suspicious transaction report quality and cross-border information cooperation.
Legislative ground established to check criminal records of major shareholders of VASPs (January 2026)
A revision to the Act on Reporting and Using Specified Financial Transaction Information passed the National Assembly, providing a legal basis for criminal record checks and suitability screening of major shareholders and allowing notification of sanctions on retired employees of financial companies.
Amended legislation establishes legal ground for introducing and circulating security tokens (January 2026)
Revisions to the Act on Electronic Registration of Stocks and Bonds and the Financial Investment Services and Capital Markets Act passed the National Assembly, creating the legal basis for issuing and circulating security tokens and confirming how electronic registration and capital markets rules apply.
DFSA updated Crypto Token rules effective 12 January 2026
Amendments to the DFSA Crypto Token regime took effect on 12 January 2026: responsibility for token suitability moved to firms, the DFSA no longer maintains a prescribed list of Recognised Crypto Tokens, fund investment thresholds and restrictions were removed, and investor safeguards on conduct, governance, custody and disclosure were strengthened.
DFSA Rulebook GEN Rule 3A: Crypto Token requirements and suitability criteria
Chapter 3A of the DFSA Rulebook's General Module sets out Crypto Token requirements; GEN Rule 3A.2.1 lists the criteria firms must consider — token characteristics and governance, regulatory status elsewhere, market size, liquidity and trading history, the technology used, and whether use would prevent compliance with DFSA-administered legislation.
Capital and Liquidity Treatment of Crypto-asset Exposures (Banking) – Guideline (2026)
The guideline sets classification, capital measurement, exposure-limit and liquidity requirements for crypto-asset exposures of federally regulated banks, supported by ongoing identification and risk assessment.
ESMA list of authorised DLT market infrastructures
The list records DLT market infrastructures authorised under the pilot regime and the scope of their permissions, providing the official basis for verifying counterparties.
CS 30: Proposed extension of stablecoin distribution exemption
CS 30 consults on extending the Australian stablecoin distribution exemption, identifying eligible distribution scenarios, conditions and the transition to licensing or other compliance.
ESMA statement to support the smooth implementation of MiCA standards and format
The statement sets out ESMA's transitional arrangements and supervisory expectations for implementing MiCA standards and data formats, helping participants stay compliant during rollout.
BLOOM initiative for digital settlement capabilities
BLOOM promotes tokenised bank liabilities and well-regulated stablecoins for domestic and cross-border wholesale settlement, including programmable compliance and agentic payments.
Digital assets: Financial products and services (INFO 225)
INFO 225 explains when digital assets and related services may be financial products under Australian corporations law and the AFS licensing, disclosure and conduct obligations that may follow.
25-250MR: Updated ASIC guidance supports digital asset innovation and boosts investor protection
ASIC's updated digital asset guidance explains how existing financial services laws apply while supporting innovation alongside investor protection, licensing and conduct requirements.
VARA steps up enforcement: 19 unlicensed firms penalised and public warning issued
The notice summarises VARA's penalties and public warnings against 19 unlicensed firms, describing the breach types, sanctions and market warning, reflecting scaled enforcement against unlicensed activity.
Proposed amendments to the Money Laundering Regulations: policy note and draft SI (2025)
HM Treasury's technical consultation amends the Money Laundering Regulations, including registration of cryptoasset businesses, customer due diligence and information sharing.
Payment service providers are now under Supervision – Registry to follow
The Bank of Canada confirms that the Retail Payment Activities Act supervisory regime is operational, registered payment service providers are under supervision, and explains the registry, risk management, incident reporting and ongoing compliance expectations.
VARA notice of fines — Morpheus Software Technology FZE
The notice records VARA's fines against Morpheus Software Technology FZE over licensing and compliance requirements for virtual asset activity, an enforcement action against a free-zone registered entity.
ESMA MiCA White Paper Reporting Manual (XBRL taxonomy)
The manual explains the machine-readable reporting specification for MiCA white papers and how the XBRL taxonomy applies, setting out how issuers tag and submit structured data.
ESMA MiCA XBRL Taxonomy documentation
The document is the full technical specification of the MiCA white paper XBRL taxonomy, defining data elements, hierarchies and mappings for reporting system developers.
ESMA MiCA White Paper Taxonomy 2025
The page publishes the 2025 MiCA white paper XBRL taxonomy and supporting files, including validation rules and the reporting manual, as the current basis for machine-readable white papers.
Cayman Virtual Asset (Service Providers) (Amendment) Act, 2025: revision of the 'issuance of virtual assets' definition
Act 8 of 2025 (assented 15 July 2025, gazetted 22 July 2025) amends the definition of 'issuance of virtual assets' in section 2 of the VASPA (2024 Revision) with incidental amendments; commencement is by Cabinet Order.
GENIUS Act (Public Law 119-27)
The GENIUS Act was signed into law on 18 July 2025 as Public Law 119-27. It creates a federal framework for payment stablecoins, covering issuer licensing, reserve requirements, disclosure, audit and redemption duties, the split between federal and state supervisors, and rules for foreign issuers. Section 20 provides that the Act and its amendments take effect on the earlier of 18 months after enactment or 120 days after the primary federal payment stablecoin regulators issue final implementing regulations. As of 12 September 2026, rulemaking remains in progress, so the requirements should not be described as already fully effective.
DFSA Consultation Paper No. 168: enhancements to the regulation of Crypto Tokens
The DFSA consulted on enhancements to the regulation of Crypto Tokens, with appendices amending several rulebook modules (GEN, COB, CIR, FER), forming the direct basis for the Crypto Token rule changes effective January 2026.
Policy Statement 2.0 on the Development of Digital Assets in Hong Kong
Policy Statement 2.0 coordinates digital-asset regulation, tokenised products, practical applications and talent partnerships under the LEAP framework, and proposes developing dealing and custody regulation.
Digital token service provider regime in Singapore (2025)
MAS clarified that the DTSP regime takes effect on 30 June 2025 and may capture providers serving only customers outside Singapore.
Guidelines on licensing for digital token service providers
The guidelines explain licensing and scope for digital token service providers, including some businesses serving only customers outside Singapore.
VARA Compliance and Risk Management Rulebook
This rulebook sets minimum requirements for the compliance function and risk management framework, including the independence of compliance and risk officers, risk identification and assessment, AML and sanctions compliance, conflicts of interest, monitoring and reporting.
VARA Technology and Information Rulebook
This rulebook sets technology governance, system security and information management requirements, covering technology risk, cybersecurity, private key and wallet management, incident response, data integrity and business continuity.
VARA Market Conduct Rulebook
This rulebook sets market conduct standards, including prohibitions on market manipulation and misleading conduct, order handling and best execution, disclosure and conflicts of interest, plus trade surveillance and recordkeeping.
VARA Advisory Services Rulebook
This rulebook sets licensing and conduct standards for virtual asset advisory services, covering competence and knowledge requirements, suitability of advice, conflict disclosure and fee arrangements.
VARA Broker-Dealer Services Rulebook
This rulebook sets licensing and operating requirements for virtual asset broker-dealer services, covering order execution, separation of proprietary and client business, risk limits, trade reporting and recordkeeping.
VARA Custody Services Rulebook
This rulebook sets licensing and operating requirements for virtual asset custody, covering client asset segregation, key and wallet management, reconciliation, bankruptcy remoteness, insurance and audit.
VARA Lending and Borrowing Services Rulebook
This rulebook sets licensing and operating requirements for virtual asset lending and borrowing, covering collateral management, limits on rehypothecation, liquidity risk management, client suitability and risk disclosure.
VARA VA Management and Investment Services Rulebook
This rulebook sets licensing and operating requirements for virtual asset portfolio management and investment services, covering fiduciary duties, investment mandates and limits, valuation, custody and investor reporting.
VARA VA Transfer and Settlement Services Rulebook
This rulebook sets licensing and operating requirements for virtual asset transfer and settlement services, covering transfer processing, settlement finality, counterparty risk, sanctions and AML screening, and dispute handling.
VARA Virtual Asset Issuance Rulebook
This rulebook sets licensing and disclosure requirements for virtual asset issuance, distinguishing issuance types and covering whitepaper content, reserves and asset backing, custody, ongoing disclosure and secondary market duties.
Guidance on the Virtual Asset Issuance Rulebook
This guidance accompanies the issuance rulebook, explaining how issuance categories are determined, how whitepaper and disclosure requirements apply in practice, reserve and asset-backing arrangements, and how ongoing duties are enforced.
Sale of virtual assets by non-profit corporations and exchanges allowed (May 2025)
The Virtual Asset Committee finalised guidelines on sales of virtual assets by non-profit corporations and exchanges, including conditions for real-name accounts for disposal purposes and requirements to prevent money laundering and conflicts of interest.
Regulatory regime for cryptoassets (regulated activities): draft SI and policy note (2025)
HM Treasury published draft statutory provisions and a policy note defining which cryptoasset activities become regulated activities under the Financial Services and Markets Act 2000.
XIN private-key loss dispute: Wei and others v. Zhang and others
After co-investing in XIN token nodes, investors claimed compensation because an alleged deletion of the private key made the tokens inaccessible. The court dismissed all claims and neither party appealed.
VARA consumer and marketplace alert — misrepresentation of participation in the DLD real estate tokenisation project
The alert addresses false claims of participation in the Dubai Land Department real estate tokenisation project, clarifying that the firms involved were not authorised and cautioning investors and licensed firms.
SEC announces dismissal of civil enforcement action against Coinbase
The release records the staff decision to dismiss the civil enforcement action against Coinbase on the basis that the underlying questions are better addressed through regulatory framework work. It is case-specific.
VARA consumer and marketplace alert — memecoins
The alert warns about memecoin risks, covering price volatility, liquidity, promotional techniques and potential fraud, and cautions investors about unlicensed promotion.
SEC Crypto Task Force materials
Tracks the SEC Crypto Task Force's official statements, public events and regulatory materials as an official topic index for judging digital-asset policy direction.
SEC Crypto 2.0: Acting Chairman Uyeda announces formation of new Crypto Task Force
The release announces the formation of the SEC Crypto Task Force and sets out its goal of clarifying how the securities laws apply to crypto assets, providing workable registration and exemption paths, and improving engagement with the public and industry.
ESMA MiCA order book and records keeping message specifications
The specification sets the message formats and data fields for order book and recordkeeping data required under MiCA, for implementation by trading platforms and reporting systems.
Virgilio Tarrago Da Silveira and another v Hashstacs Pte Ltd and another [2024] SGHC(I) 32
The Singapore International Commercial Court dismissed claims arising from the purchase of over 8 million STACS Tokens, including fraudulent and negligent misrepresentation, unjust enrichment and conspiracy.
CP 381: Updates to INFO 225 Digital assets: Financial products and services
CP 381 sets out proposed updates to ASIC's digital asset financial-products guidance, with examples covering stablecoins, wrapped tokens, staking, tokenised assets, DeFi and custody.
ESMA list of competent authorities notified under MiCA Article 93
The list records the competent authorities notified by Member States under MiCA Article 93, identifying who licenses and supervises in each country.
EBA explainer on reporting obligations for ARTs and EMTs under MiCA
The explainer illustrates the reporting obligations and template completion for ART and EMT issuers under MiCA, helping issuers understand filing requirements.
Commission Delegated Regulation (EU) 2024/2984 supplementing MiCA with regulatory technical standards
The delegated regulation supplies level-2 regulatory technical standards under MiCA, detailing requirements on conflicts of interest, complaints handling and disclosure for crypto-asset service providers.
FSCA FAIS Notice 76 of 2024: Amendment of the Exemption of Persons rendering a Financial Service in relation to Crypto Assets from Certain Requirements, 2024
Issued under paragraph 5(2)(a) of the 2023 crypto-asset exemption, this notice amends paragraph 2 of the Schedule to that exemption. It must be read together with FAIS Notice 25 of 2023 and applies to persons relying on the crypto-asset exemption or pursuing licensing under that framework.
VARA strengthens enforcement programme: fines and public warning against unlicensed virtual asset firms
The notice explains the background and measures of VARA's strengthened enforcement programme, publishing fines on unlicensed firms, warning market participants against dealing with them and setting out how to identify compliant providers.
Guidance on the Regulations on the Marketing of Virtual Assets and Related Activities 2024
This guidance explains how the marketing rules apply to virtual assets, covering marketing permits, advertising and promotion targeting the Dubai market, allocation of responsibility between local and offshore entities, and worked examples.
Digital Asset Protection Foundation set up to ensure safe return of user funds from closed-down VASPs (September 2024)
The FSC authorised the industry plan led by DAXA to establish a Digital Asset Protection Foundation charged with protecting user rights and supporting asset returns when VASPs close down.
PS-G03 Guidelines on consumer protection safeguards for DPT services
PS-G03 sets detailed requirements for customer-asset segregation and trust accounts, risk controls, statements, disclosures, risk-awareness assessment, incentives, credit, conflicts and complaints.
SC Malaysia Guidelines on Digital Assets (issued 2020, revised 19 August 2024)
The SC Guidelines on Digital Assets set out regulatory requirements for digital asset activities, including registration and conduct requirements for Initial Exchange Offering (IEO) operators, registration and custody obligations for digital asset custodians, and technology risk management requirements; the August 2024 revision aligns them with the revised Guidelines on Technology Risk Management.
Summary of amendments to the SC Malaysia Guidelines on Digital Assets (August 2024)
The SC published a summary of amendments to the Guidelines on Digital Assets: the revision is mainly consequential and housekeeping, aligning the Guidelines with the revised Guidelines on Technology Risk Management and adjusting IEO operator provisions (including Chapter 15 criteria).
CFTC order against FTX and Alameda
The release records the CFTC settlement with FTX entities over fraudulent use of customer funds, misrepresentation, and unregistered futures and swaps activity, with restitution and civil penalties.
The Act on the Protection of Virtual Asset Users takes effect from 19 July 2024
The FSC announced that the Act on the Protection of Virtual Asset Users takes effect from 19 July 2024, establishing the basic framework for market order and user protection, covering segregation of customer assets, prohibition of unfair trading and disclosure duties.
Fantom Foundation Ltd v Multichain Foundation Ltd and another [2024] SGHC 173
On assessment of damages after default judgment, the court awarded US$58,620.55 and US$2,129,250 for the equivalent of 4.175 million FTM.
CP 343: Crypto assets as underlying assets for ETPs and other investment products
CP 343 consults on admission, valuation, custody, disclosure and risk-management requirements when crypto assets are used as underlying assets for exchange-traded and other investment products.
Regulation (EU) 2024/1689 laying down harmonised rules on artificial intelligence
The Act regulates AI systems by risk tier, banning certain uses, imposing compliance and transparency duties on high-risk systems and setting obligations for general-purpose and generative models, with direct impact on crypto firms using AI in monitoring, credit assessment or customer interaction.
CBUAE Payment Token Services Regulation (Circular No. 2/2024, effective 31 August 2024)
CBUAE Circular No. 2/2024 issued the Payment Token Services Regulation, establishing a licensing and registration regime for payment token issuance, conversion, custody and transfer. It applies to payment token services in the UAE and covers Dirham and foreign payment tokens, reserves of assets, redemption, segregation of customer assets, white papers, customer agreements, AML/CFT, governance, capital, technology and business continuity. It prohibits algorithmic stablecoins, privacy tokens and other unauthorised means of payment. The Regulation took effect on 31 August 2024 with a one-year transition period.
Regulation (EU) 2024/1624 on the prevention of the use of the financial system for money laundering or terrorist financing
The AMLR is the EU's new single AML rulebook, directly applicable in Member States, covering customer due diligence, beneficial ownership, limits on cash and crypto transactions and specific duties for crypto-asset service providers.
Directive (EU) 2024/1640 on the mechanisms to be put in place by Member States for the prevention of money laundering
AMLD6 sets the institutional requirements for Member States on AML supervision, financial intelligence units, registers and enforcement, complementing the AMLR in the EU AML package.
Commission Delegated Regulation (EU) 2024/1620 supplementing the AML framework
The delegated regulation supplements the AML package, detailing high-risk third country treatment and enhanced due diligence procedures alongside the AMLR and AMLD6.
Order approving exchange rules for spot Ether exchange-traded products
The order approves exchange rule changes to list and trade spot Ether commodity-based products, extending the structure approved for Bitcoin, using the same surveillance and fraud-and-manipulation analysis.
Three Arrows Capital Ltd and another v Cheong Jun Yoong and others [2024] SGHC(A) 10
The Appellate Division refused permission to appeal against the lower court’s service and jurisdiction decision, allowing the Singapore claim to continue.
Regulation (EU) 2024/1183 establishing the European digital identity framework
eIDAS 2 creates the European Digital Identity Wallet framework, covering mutual recognition of digital identity and trust services, attribute attestations and wallet provider duties, shaping remote onboarding and KYC design for crypto firms.
ESMA letter to EU institutions on DLT Pilot Regime implementation
The letter explains to EU institutions the issues encountered in implementing the DLT Pilot Regime and possible adjustments, reflecting dialogue between supervisors and legislators.
Notice PSN02 on AML/CFT for digital payment token services
PSN02 imposes AML/CFT governance, risk assessment, customer due diligence, monitoring, record-keeping and suspicious-transaction reporting duties on licensed DPT service providers.
Guidelines to Notice PSN02 on AML/CFT for DPT services
The guidance explains how DPT service providers should apply the risk-based approach in Notice PSN02 across customers, products, transactions, geography, delivery channels and new technology.
Expanded scope of the Payment Services Act 2019
From 2 April 2024, Singapore expanded the Payment Services Act to cover additional cross-border transfer, DPT custody and transmission arrangements, with transition measures.
HKMA launches the stablecoin issuer sandbox arrangement
The Hong Kong Monetary Authority (HKMA) announced today (12 March) the launch of the stablecoin issuer sandbox arrangement.
Cayman Islands Virtual Asset (Service Providers) Act (2024 Revision)
The VASPA is the Cayman Islands' foundational law for virtual asset service providers. It establishes CIMA registration and licensing, distinguishes VASP registration from virtual asset issuance/trading categories, and sets application conditions, annual fees, ongoing obligations, CIMA supervisory and enforcement powers, and AML, client asset and record-keeping requirements.
CIMA supervisory framework for virtual asset service providers
CIMA is the competent authority under the VASPA, handling VASP registration and virtual asset licence applications, ongoing supervision, published reporting requirements and schedules, and VASP industry statistics; use of its materials is restricted by the CIMA website terms.
Cheong Jun Yoong v Three Arrows Capital Ltd and others [2024] SGHC 21
The court refused to set aside service abroad and considered the situs of a cryptoasset by reference to control and the residence of the private-key holder.
Order approving exchange rules for spot Bitcoin exchange-traded products
The order approves exchange rule changes to list and trade spot Bitcoin commodity-based trust shares, the Commission's first authorisation of spot Bitcoin exchange-traded products, and addresses surveillance, fraud and manipulation, and disclosure.
Indonesia crypto asset market structure: exchange, clearing house, storage provider and physical traders
While crypto asset supervision sat with Bappebti, Indonesia established a delineated crypto asset market structure: the crypto asset exchange (bursa), the crypto asset clearing house (lembaga kliring), the crypto asset storage provider (pengelola tempat penyimpanan) and crypto asset physical traders (pedagang fisik aset kripto), each requiring approval and supervised by Bappebti.
CFTC order against Binance and Changpeng Zhao
The release records the CFTC settlement with Binance and Changpeng Zhao covering unregistered futures activity for U.S. customers, efforts to evade regulatory controls, and AML compliance failures, together with monetary and remedial relief.
Regulation (EU) 2023/2854 on harmonised rules on fair access to and use of data
The Data Act sets rules on access to and sharing of data from connected products and related services, cloud switching obligations and business-to-government data sharing, which can create access and switching duties for Web3 projects relying on connected devices or cloud infrastructure.
Response to public consultation on regulatory measures for DPT services (Part 2)
MAS published its second consultation response in November 2023, settling policy directions on consumer access, business conduct, conflicts, and technology and cyber risks.
Binance criminal resolution for anti-money laundering, unlicensed money transmission and sanctions violations
The DOJ's public resolution materials show what a large digital-asset platform faced over U.S. business touchpoints, its AML program, unlicensed money transmission and sanctions controls.
Update on plans for the regulation of fiat-backed stablecoins (2023)
HM Treasury set out its plans for regulating fiat-backed stablecoins, allocating systemic issuers to the Bank of England and other issuers and services to the FCA, with legislative and transition arrangements.
VARA notice of fines — OPNX Exchange
The notice records VARA's fines against OPNX Exchange, one of VARA's early enforcement cases, illustrating the consequences of unlicensed virtual asset activity and marketing breaches.
Response to consultation on Singapore's stablecoin regulatory framework
MAS finalized its single-currency stablecoin policy in August 2023, covering reserve assets, timely redemption at par, cross-border issuance, disclosure and prudential requirements.
Digital Securities Sandbox: consultation and consultation outcome (2023)
The consultation and outcome for the UK's first financial market infrastructure sandbox, allowing distributed ledger technology to be used for issuing, trading and settling securities under controlled conditions.
European Commission digital euro legislative proposal
The page publishes the digital euro legislative package, establishing its legal status, legal tender and circulation requirements, plus cash safeguards and privacy arrangements.
Virtual Assets and Related Activities Regulations 2023
These are VARA's core regulations, defining the regulated virtual asset activities, licence categories and compliance baseline, covering governance, client assets, market conduct and reporting, with detail delegated to the activity rulebooks.
VARA Company Rulebook
This rulebook sets minimum corporate governance and operational requirements for licensed virtual asset firms, covering board composition and fitness, senior management responsibility, internal controls, outsourcing and group structures.
Markets in Crypto-Assets Regulation (MiCA) and implementation materials
Centred on the full text of the EU Markets in Crypto-Assets Regulation, with ESMA implementation materials covering issuers, asset-referenced tokens, e-money tokens and crypto-asset service providers.
FCA cryptoasset regime and financial promotion rules
The FCA sets out registration, anti-money laundering and financial promotion requirements for cryptoasset firms; PS23/6 brings cryptoasset promotions into the financial promotion regime with risk warnings, appropriateness checks and a cooling-off period.
SEC v. Coinbase, Inc. and Coinbase Global, Inc. complaint
The complaint alleges Coinbase operated as an unregistered national securities exchange, broker and clearing agency, and that its staking programme was an unregistered securities offering.
SEC v. Binance Holdings Limited and others complaint
The complaint alleges that Binance entities operated unregistered exchange, broker-dealer and clearing functions, offered and sold securities without registration, and commingled customer assets while structuring around U.S. regulation.
Hong Kong virtual asset trading platform licensing and ongoing supervision framework
Welcome to the Fintech Contact Point
Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets
The regulation extends the information-accompanying-funds regime to crypto-asset transfers, requiring CASPs to include originator and beneficiary data and imposing verification and threshold rules for transfers to self-hosted wallets.
FSCA FAIS Notice 25 of 2023: Exemption of Persons Rendering a Financial Service in relation to Crypto Assets from Certain Requirements
This notice addresses the specific application of the General Code and fit-and-proper requirements to crypto-asset FSPs, key individuals and representatives. It exempts certain requirements and sets conditions concerning qualifications, experience, regulatory examinations, continuing professional development, guarantees, professional indemnity or fidelity insurance. FSCA Communication 16 of 2023 provides the official explanation of the final changes, consultation response and updated qualification list.
VARA notice of written reprimand — OPNX Exchange
The notice records a written reprimand issued to OPNX Exchange over marketing and compliance concerns, showing a lighter supervisory measure used before monetary penalties.
Illicit Finance Risk Assessment of Decentralized Finance
The assessment analyses illicit finance risks in DeFi, identifies gaps in applying AML obligations, the regulatory difficulty created by offshore and anonymised structures, and recommendations, stressing that a decentralised label does not by itself remove legal responsibility.
FIU-IND AML & CFT Guidelines for Reporting Entities Providing Services Related to Virtual Digital Assets (2023)
Issued by the Financial Intelligence Unit – India under the Prevention of Money-Laundering Act, 2002 (PMLA) and the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 (PMLR), these guidelines apply to reporting entities providing services related to virtual digital assets (VDAs). They require VDA service providers to register with FIU-IND as reporting entities and set out AML/CFT/CPF programmes, a Designated Director and Principal Officer, customer due diligence (CDD) and enhanced due diligence (EDD), sanctions screening, transaction monitoring and suspicious transaction reporting (STR), record retention, information sharing, the risk-based approach, and specific obligations for ICOs/ITOs, VDA transfers and the Travel Rule.
Canadian securities regulators outline regulatory framework for compliance for crypto asset trading platforms
The release describes the compliance framework that crypto asset trading platforms should follow while seeking registration in Canada, including asset segregation, custody, insurance, governance, conflicts, token admission and disclosure.
UK cryptoasset regulatory perimeter and framework development
Combines the FCA's current cryptoasset work and HM Treasury's consultation on the broader financial-services regulatory regime, distinguishing current AML and financial-promotion duties from the wider future framework.
Future financial services regulatory regime for cryptoassets: consultation and government response (2023)
HM Treasury's February 2023 consultation set out a full framework for bringing cryptoasset activities into the financial services regime, and the October 2023 response confirmed the direction and phased implementation path.
Agencies issue joint statement on crypto-asset risks to banking organizations
The three banking agencies jointly flag crypto-asset risks for banking organisations, including fraud and scams, legal uncertainty, deposit outflows, custody and settlement risk, and AML and sanctions exposure, and warn against regulatory evasion.
ESMA guidelines on standard forms, formats and templates for DLT market infrastructure permission
The guidelines set the standard forms, formats and templates for applying for DLT market infrastructure permission, harmonising application materials across Member States.
Regulation (EU) 2022/2554 on digital operational resilience for the financial sector
DORA establishes uniform ICT risk management, incident reporting, resilience testing and third-party oversight for the financial sector, applying to a wide range of financial entities including crypto-asset service providers.
Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers
This federal decision establishes a unified regulatory framework for virtual asset service providers in the UAE, setting licensing requirements, compliance duties and coordination between authorities.
Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets
The decision delegates specific virtual asset regulatory competences to local authorities, including VARA in Dubai, clarifying the division of licensing, supervision and enforcement between federal and Emirate levels.
Financial Advisory and Intermediary Services Act: Amendment of the General Code of Conduct for Authorised Financial Services Providers and Representatives, 2022
This 2022 Government Gazette notice was issued under section 15 of the FAIS Act and further amends the General Code of Conduct. It must be read with the 2020 amendment and the underlying 2003 Code.
VARA revocation of approval and suspension of MVP licence — FTX Exchange FZE
The notice records VARA's revocation of approval and suspension of the MVP licence of FTX Exchange FZE, one of VARA's earliest significant actions, showing a licence can be suspended quickly when group-level risk emerges.
Crypto-assets: Risk management expectations and policy roadmap
APRA sets initial risk-management expectations for regulated entities undertaking crypto-asset activities and publishes a prudential policy roadmap covering investment, lending, issuance, custody and technology partnerships.
FINMA guidance on decentralised finance (DeFi) 2022
FINMA set out its stance on DeFi projects: assessment follows economic substance rather than legal form under the principle of same business, same risks, same rules, and it noted that many DeFi projects are in practice run or controlled by a few people or companies with limited transparency.
Consultation on proposed regulatory measures for digital payment token services
The consultation proposed measures on retail access, business conduct, conflicts, technology and cyber risk, and stablecoin activities.
MAS proposes measures to reduce consumer risks from cryptocurrency trading
MAS proposed consumer-protection, conduct, technology-risk and stablecoin measures in 2022, expressing support for digital-asset innovation but not cryptocurrency speculation.
Janesh s/o Rajkumar v Unknown Person [2022] SGHC 264
The court granted a proprietary injunction over a stolen Bored Ape NFT and permitted substituted service abroad against an unidentified defendant.
FSCA FAIS Notice 90 of 2022: Exemption of Persons Rendering Financial Services in relation to Crypto Assets from Section 7(1) of the FAIS Act
Issued by the FSCA under section 44(4) of the FAIS Act, this notice exempts persons rendering financial services in relation to crypto assets as a regular feature of their business from the section 7(1) licensing requirement, subject to submitting an FSP or product-subcategory application between 1 June and 30 November 2023 and complying with fit-and-proper, conduct and other conditions. Different continuation rules apply to crypto-asset miners, node operators and NFT-related financial services.
FSCA Policy Document Supporting the Declaration of a Crypto Asset as a Financial Product under the FAIS Act (2022)
Issued by the Financial Sector Conduct Authority (FSCA) on 19 October 2022, this policy document supports the Declaration of a Crypto Asset as a Financial Product under the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002). It sets out the legal basis and background, the public consultation process and responses to comments, the effect and scope of the Declaration, transitional provisions, and the FSCA's approach to a regulatory and licensing framework for crypto asset financial services providers under the FAIS Act.
FSOC Report on Digital Asset Financial Stability Risks and Regulation
Prepared under the executive order, the report identifies digital asset risks to financial stability, including volatility, leverage, linkages to traditional finance and concentration in market infrastructure, and assesses regulatory gaps.
UK regulatory approach to cryptoassets and stablecoins: consultation and response (2021-2022)
HM Treasury's consultation and response set the UK's phased approach, prioritising stablecoins and bringing related activities into the financial services regime.
Reports show scammers cashing in on crypto craze
Drawing on consumer reports, the FTC sets out the scale, common methods and victim profiles of crypto-related scams, with consumer guidance, reflecting how enforcers understand crypto rails in fraud.
Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology
The regulation creates a temporary pilot regime for DLT-based trading and settlement infrastructures, permitting exemptions from some existing financial rules subject to specific permissions, thresholds and time limits.
Travel rule for electronic funds and virtual currency transfers
The guidance sets out the travel-rule requirements for electronic funds and virtual currency transfers, including collection, transmission and retention of originator and beneficiary information and treatment of missing data.
FDIC notification of engaging in crypto-related activities
The letter requires FDIC-supervised institutions to notify their supervisory office before engaging in crypto-related activities, and sets expectations for assessing safety, soundness and consumer protection.
Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai
This law is Dubai's foundational virtual asset legislation, establishing VARA and defining its powers to license, supervise and enforce virtual asset activity in the Emirate, alongside the federal and free-zone authorities.
CLM v CLN and others [2022] SGHC 46
The court granted a proprietary injunction over stolen Bitcoin and Ethereum, ancillary disclosure and substituted service against unidentified defendants.
FINMA Innovation report 2021: digital client onboarding and the DLT Act
FINMA's 2021 innovation report explains how it followed fintech innovation, including updating the circular on online client identification and further developing regulatory principles under the Distributed Ledger Technology (DLT) Act.
PS-G02 Guidelines on provision of digital payment token services to the public
PS-G02 requires DPT service providers to discourage public speculation, avoid promoting risky trading and make adequate risk disclosures.
ESMA report on the call for evidence on the DLT Pilot Regime
The report summarises ESMA's call for evidence on the DLT Pilot Regime, analysing the feasibility of DLT market infrastructures, regulatory obstacles and accompanying supervisory measures.
Digital payment tokens regulated in Singapore
The explainer describes DPTs, their use and regulatory risks, noting that exchanges are regulated primarily for money-laundering, terrorism-financing and technology risks.
OFAC Sanctions Compliance Guidance for the Virtual Currency Industry
The guidance explains how U.S. sanctions programmes apply to the virtual currency industry, setting out screening and blocking duties and compliance expectations for exchanges, wallet providers, custodians, payment processors and miners, with civil and criminal exposure.
Justice Department announces National Cryptocurrency Enforcement Team
The release announces the National Cryptocurrency Enforcement Team (NCET) to investigate and prosecute crypto-related crime, handle complex asset forfeiture, and support and train prosecutors nationwide.
Notice on Rectifying Virtual Currency Mining Activities
Sets out the requirements on new investment in virtual-currency mining projects, the orderly exit of existing projects, and the related electricity, energy, financial and industrial-policy measures.
Notice on Further Preventing and Addressing Risks from Virtual Currency Trading and SpeculationRepealed
Collects the notice by the People's Bank of China and nine other departments on virtual-currency-related business activities, overseas trading platforms serving domestic residents, and the duties of financial and payment institutions.
Retail Payment Activities Act
The Act creates a registration and supervision regime for retail payment service providers, with the Bank of Canada supervising operational risk, funds safeguarding, incident reporting and end-user protection.
Reporting large virtual currency transactions to FINTRAC
The guidance explains when a reporting entity must submit a Large Virtual Currency Transaction Report for virtual currency transactions of CAD 10,000 or more, including triggers, filing and exceptions.
BSP Circular No. 1108 (2021): VASP licensing and capital requirements
BSP Circular No. 1108 (approved by Monetary Board Resolution No. 78 of 21 January 2021) replaces the former virtual currency exchange regime with Virtual Asset Service Providers (VASPs) and rewrites Section 902-N of the MORNBFI: VASPs are treated as money service businesses requiring a Certificate of Authority under Section 901-N, with fitness and propriety review of beneficial owners; minimum paid-in capital is PHP 50 million for VASPs with virtual asset safekeeping/administration services and PHP 10 million without.
BSP Circular No. 1108 (2021): VASP anti-money laundering and consumer protection requirements
The circular sets FATF Recommendations and other risk management principles as the baseline for all VASPs, requiring compliance with AML/CFT provisions (MORNBFI Sections 607-N and 502-N), financial consumer protection (Sections 707-N, 702-N and 703-N), liquidity, operational and IT risk management, business continuity, internal control and sound corporate governance, and requires wallet providers to maintain an adequate cybersecurity framework and security controls.
BSP definition and regulatory treatment of virtual assets
Circular 1108 defines a virtual asset as any type of digital unit that can be digitally traded or transferred and used for payment or investment purposes, capable of being treated as 'property', 'proceeds', 'funds', 'funds or other assets' and other 'corresponding value', used as a medium of exchange or a form of digitally stored value created by agreement within the community of users; it notes that once fiat is converted into virtual assets they become easily transferable, which brings VASPs within the BSP's regulatory and examination powers.
Cryptocurrency: An Enforcement Framework
Published by the Attorney General's Cyber-Digital Task Force, the report sets out federal jurisdiction and enforcement approaches for cryptocurrency crime, common offence types, technical challenges and cross-agency and cross-border coordination.
Report on a digital euro (European Central Bank)
The report sets out the ECB's considerations on a digital euro, covering its purpose, the relationship with cash, the balance between privacy and AML, holding limits, the role of intermediaries, and effects on financial stability and monetary policy.
Bermuda Digital Asset Issuance Act 2020 (consolidated)
The DAIA 2020 regulates digital asset issuance and offers to the public in Bermuda: it sets out requirements for conducting digital asset issuances, regulates public offers, provides a qualified-acquirer route, and covers the Authority's principles and guidance, codes of conduct and related exemptions and supervisory powers.
Project Ubin: distributed-ledger settlement experimentation
Project Ubin completed five phases in 2020 to test distributed-ledger clearing and settlement for payments and securities.
Financial Sector Regulation Act, 2017 and Financial Advisory and Intermediary Services Act, 2002: Amendment of the General Code of Conduct for FSPs and Representatives, 2020
This 2020 Government Gazette amendment concerns the FAIS General Code and specified conduct codes. Its changes must be incorporated into the compliance systems of authorised FSPs and representatives and read with the 2003 Code and the 2022 amendment.
Quoine Pte Ltd v B2C2 Ltd [2020] SGCA(I) 2
A cryptocurrency exchange cancelled trades after a system malfunction produced abnormal prices. The majority upheld contract liability but allowed part of the appeal on breach of trust.
Consultation on the scope of e-money and digital payment tokens
The consultation examined the boundaries between money, e-money and DPTs and how payment services based on those instruments should be regulated.
IRS Revenue Ruling 2019-24 on cryptoasset forks
The ruling explains when new cryptoassets from a hard fork or airdrop become gross income, how to treat a fork where the taxpayer cannot access the new asset, and how basis and holding period are determined.
Advisory on Illicit Activity Involving Convertible Virtual Currency
FinCEN advisory FIN-2019-A003 collects the typologies and red-flag indicators of illicit activity involving convertible virtual currency, and how financial institutions should identify and report suspicious activity.
FinCEN guidance on application of money transmission rules to convertible virtual currency
Using seven business models, the guidance explains when CVC issuers, exchangers, transmitters, custodians and trading platforms are money transmitters under the Bank Secrecy Act, and when exceptions such as payment processing apply.
A Framework for OFAC Compliance Commitments
The framework sets out the five essential components OFAC considers when assessing a sanctions compliance programme — management commitment, risk assessment, internal controls, testing and auditing, and training — and links programme effectiveness to penalty mitigation.
Payment Services Act 2019 regulatory framework
Singapore regulates payment systems, payment-service providers and digital payment token services under the Payment Services Act, with licence classes based on the activity and scale of the business.
Framework for 'Investment Contract' Analysis of Digital Assets
Issued by the SEC Division of Corporation Finance, the framework walks the four Howey elements to list factors for whether a digital asset is an investment contract, and discusses whether a token is sufficiently decentralised. It is staff guidance, not a rule.
Malaysia Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 (P.U. (A) 12)
This 2019 statutory order prescribes digital currency and digital tokens as securities under the Capital Markets and Services Act 2007, bringing them within Malaysia's securities regulation and under the Securities Commission's supervision; activities involving them require SC approval.
Bermuda Digital Asset Business Act 2018 (consolidated)
The DABA 2018 is one of the world's earliest dedicated digital asset business regimes: it establishes the BMA's digital asset business licensing categories (Test, Modified and Full), prohibits carrying on digital asset business in Bermuda without a licence, and sets out the Authority's principles and guidance, codes of practice, prudential and reporting requirements, and exemption and modification powers.
BMA digital asset business licences and regulated activities
The BMA sets out the three digital asset business licences under the DABA 2018: the Test 'T' licence for proof-of-concept testing, the Modified 'M' licence for limited-period expansion, and the Full 'F' licence for the full range of regulated activities, which include issuing, selling or redeeming virtual coins and tokens, payment services using digital assets, wallet and custody services.
Swiss Financial Institutions Act (FINIG, SR 954.1)
FINIG establishes the licensing and supervision regime for financial institutions including asset managers, trustees and managers of collective assets. It sets prudential, organisational and governance requirements, client asset protection, professional qualifications, reporting duties and FINMA supervisory powers.
Directive (EU) 2018/843 amending Directive (EU) 2015/849 on the prevention of money laundering
5AMLD first brought virtual currency exchange and custodian wallet providers within the EU AML regime and strengthened beneficial ownership registers and politically exposed person requirements.
Thailand digital asset business: exchange, broker and dealer licensing categories
The SEC sets out the licensed digital asset business operator categories under the Emergency Decree on Digital Asset Businesses: licensed commercial banks, insurers and securities companies are excluded, and digital asset businesses are divided into digital asset exchange, digital asset broker and digital asset dealer, each with defined boundaries.
Thailand Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) framework
The Emergency Decree on Digital Asset Businesses is Thailand's foundational digital asset law (in force from 2018 and amended several times): it establishes the digital asset business licensing regime, rules for primary market (ICO) and secondary market activity, with the SEC as licensing and supervisory authority; the English text published by the SEC is marked as an unofficial translation.
FINMA ICO guidelines (2018)
FINMA's ICO guidelines set out how Swiss financial market law applies to ICOs: there is no ICO-specific regulation and each case is assessed individually, focusing on the economic function and transferability of the token and classifying it as a payment, utility or asset token.
Announcement on Preventing Risks from Token Offering Financing
Collects the 2017 ICO risk announcement, which defines token offering financing, requires the activities to stop and completed financings to be wound up, and restricts trading platforms and financial/payment institutions.
Swiss Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FINMIA, SR 958.1)
FINMIA governs the organisation and operation of financial market infrastructures (trading venues, central counterparties, central securities depositories, payment systems and trade repositories) and market conduct in securities and derivatives trading, and provides the legal basis for distributed ledger technology (DLT) trading facilities and tokenised securities.
Directive (EU) 2015/849 on the prevention of the use of the financial system for money laundering
4AMLD created the EU's risk-based AML framework with customer due diligence, beneficial ownership and recordkeeping duties, forming the basis for 5AMLD and the AMLR.
General Code of Conduct for Authorised Financial Services Providers and Representatives Amendment Notice, 2014
This official Government Gazette notice amends the 2003 General Code of Conduct for authorised financial services providers and representatives. It must be read with the 2003 Code and subsequent amendments.
IRS Notice 2014-21: virtual currency guidance
In question-and-answer form, the notice establishes that convertible virtual currency is treated as property for U.S. tax purposes, covering mining income, payment for services, gain and loss, and reporting.
Notice on Preventing Bitcoin Risks
Traces the 2013 Bitcoin risk notice as the starting point of mainland regulation, checked against the regulator's 2026 policy Q&A for its historical position and current succession.
Japan’s Payment Services Act: crypto-asset exchange services framework
Follows the official English translation of Japan's Payment Services Act and the FSA register of licensed operators, covering the crypto-asset definition, exchange-service registration and customer asset management.
General Code of Conduct for Authorised Financial Services Providers and Representatives, 2003
Published under section 15 of the FAIS Act, the General Code of Conduct requires authorised financial services providers and representatives to act in the interests of clients, make adequate disclosures, avoid misleading representations, manage conflicts of interest, and maintain appropriate records, complaints, insurance and control arrangements. This record is the official Government Gazette text of Board Notice 80 of 2003; later amendments are separately recorded in the 2020 and 2022 amendment notices.
Financial Advisory and Intermediary Services Act 37 of 2002 (consolidated to 1 April 2023)
The Financial Advisory and Intermediary Services Act, 2002 (Act 37 of 2002) is the statutory foundation for financial advice, intermediary services, and the licensing and ongoing supervision of financial services providers in South Africa. It governs authorisation, fit-and-proper requirements, conduct, record-keeping, audit, complaints and enforcement. This record uses the SAFLII consolidated text updated to 1 April 2023, maintained with permission from the Government Printing Works, and retains the original Government Gazette source; it identifies amendments already incorporated and amendments not yet commenced.
Proceeds of Crime (Money Laundering) and Terrorist Financing Act
The Act establishes Canada's AML/CFT regime, covering reporting entities, customer identification, record-keeping, suspicious and large-transaction reporting, and FINTRAC supervisory and enforcement powers.
Swiss Anti-Money Laundering Act (AMLA, SR 955.0)
AMLA establishes Switzerland’s anti-money laundering and counter-terrorist financing framework, covering due diligence by financial intermediaries, identification of beneficial owners, suspicious activity reporting, record keeping, internal organisation and supervisory reporting, together with oversight of financial intermediaries and self-regulatory bodies.
IRS digital assets filing and tax guidance
The page consolidates current IRS digital asset filing requirements, including the tax return question, taxable event types, recordkeeping and form instructions, and is updated as forms and rules change.
EBA supervisory role for asset-referenced and e-money tokens under MiCA
The page consolidates EBA's direct supervisory role over significant ART and EMT issuers under MiCA, related technical standards and guidelines, and requirements on reporting, governance and reserves.
European Central Bank digital euro project
The page presents the digital euro project's objectives, design and preparation phase, positioning it as a central bank liability complementing cash, and covering privacy, offline payments and the role of intermediaries.
ECB digital euro progress
The page tracks the digital euro project's milestones, including rulemaking, technical preparation, work with market participants and potential launch timing.
European Commission digital finance strategy
The page consolidates the European Commission's digital finance policy, covering legislative and implementation progress on crypto-assets, distributed ledger technology, the digital euro and open finance.