On 12 February 2020, the International Organisation of Securities Commissions (IOSCO) published a report which is likely to influence the approach regulators take when dealing with crypto exchanges and other providers, defined as crypto-asset trading platforms (CTPs) by IOSCO.
Commonly known as the Legislative Reform Programme (LRP), the long-awaited review and renovation of Gibraltar’s financial services law is a ground-breaking project jointly developed by the Government of Gibraltar (GoG) and the Gibraltar Financial Services Commission (GFSC). Almost four years in the making, the LRP was completed thanks to the enormous effort of the parties involved which included GoG and GFSC senior officials, law drafters, industry associations and their members, and local lawyers.
Virtual asset businesses in the UK must comply with anti-money laundering regulations, as the UK joins a growing list of countries aligning with global FATF Recommendations. As from 10 January 2020, virtual asset (cryptoasset in the UK) businesses operating in the UK, must comply with national anti-money laundering and counter-terrorism financing (AML/CTF) Regulations.
