LexGo

Updated FATF guidance for a risk-based approach to Virtual Assets and Virtual Asset Service Providers
08/11/2021

On 28 October 2021, the Financial Action Task Force (“FATF”) published an updated version of its guidance for a risk-based approach to virtual assets (the “VAs”) and virtual asset service providers (the “VASPs”) (the “Revised Guidance”).

The Revised Guidance aims at supplementing its previous guidance dated June 2019 by focusing on the following key areas:

  • clarify the definitions of VAs and VASPs;
     
  • provide explanations as to when and how the Revised Guidance applies to stablecoins;
     
  • provide guidance on the risks and tools available to countries to address the risks relating to peer-to-peer transactions;
     
  • provide updated guidance on the licensing and registration of VASPs;
     
  • provide additional guidance on the implementation of the travel rule; and
     
  • include principles of information sharing and cooperation amongst authorities competent for supervising VASPs.

The Revised Guidance notably provides clarifications on non-fungible tokens (NFTs), decentralised finance (DeFi), decentralised or distributed applications (DApp) and multi-signature arrangements.

Please do not hesitate to contact one of our experts for any questions on the above.

in collaboration with Mélanie Poirrier

Zie ook : CMS Luxembourg ( Mrs. Aurélia Viémont ,  Mrs. Sarah Hantscher )

[+ http://www.cms-db.com]

Mrs. Aurélia Viémont Mrs. Aurélia Viémont
Senior Counsel
[email protected]
Mrs. Sarah Hantscher Mrs. Sarah Hantscher
Managing Associate
[email protected]

Alle artikels Financieel recht

Laatste artikels Financieel recht

CSSF AML/CFT reporting tool: first reporting period approaches
21/06/2022

Following the publication of three circular letters [1] in December 2021 introducing new prudential and AML...

Read more

Introduction of a New eDesk Module – ePassporting
21/06/2022

Following the publication on 12 May 2022 of CSSF Circular 22/810 on pre-marketing and cross-border marketing notification ...

Read more

EU debates how to apply travel rule to cryptoassets
21/06/2022

Electronic payment transactions in the EU generally need to be accompanied by information about the payer and payee. EU la...

EU debates how to apply travel rule to cryptoassets Read more

EBA guidelines on the role and responsibilities of the AML/CFT Compliance Officer
19/06/2022

On 14 June 2022, the European Banking Authority (“EBA”) released its guidelines on policies and procedures in ...

EBA guidelines on the role and responsibilities of the AML/CFT Compliance Officer Read more

Laatste artikels van Mrs. Aurélia Viémont

Luxembourg regulator announces new requirements on central administration, internal governance an...
03/05/2022

On 22 April 2022, the CSSF released Circular CSSF 22/807 which updates the Circular CSSF 12/552 on central administration,...

Read more

Draft RTS and ITS on disclosure of information to investors under the European crowdfunding servi...
16/11/2021

On 9 November 2021, the European Banking Authority released draft regulatory technical standards (the “RTS”) o...

Read more

New CSSF Circular on the new EBA guidelines on AML/CTF risk factors
06/10/2021

On 24 September 2021, the CSSF released its Circular 21/782 which (i) provides information on the EBA Guidelines (the &ldq...

Read more

Protection of the euro against counterfeiting: new requirements applicable to relevant institutions
26/07/2021

The Luxembourg legislator has adopted the bill of law 7464[1] amending i.a. the amended laws of 5 April 199...

Read more

Laatste artikels van Mrs. Sarah Hantscher

Luxembourg regulator announces new requirements on central administration, internal governance an...
03/05/2022

On 22 April 2022, the CSSF released Circular CSSF 22/807 which updates the Circular CSSF 12/552 on central administration,...

Read more

Draft RTS and ITS on disclosure of information to investors under the European crowdfunding servi...
16/11/2021

On 9 November 2021, the European Banking Authority released draft regulatory technical standards (the “RTS”) o...

Read more

New CSSF Circular on the new EBA guidelines on AML/CTF risk factors
06/10/2021

On 24 September 2021, the CSSF released its Circular 21/782 which (i) provides information on the EBA Guidelines (the &ldq...

Read more

Protection of the euro against counterfeiting: new requirements applicable to relevant institutions
26/07/2021

The Luxembourg legislator has adopted the bill of law 7464[1] amending i.a. the amended laws of 5 April 199...

Read more

LexGO Network