Virtual Asset Service Providers

Sectors

In October 2018, the Financial Action Task Force (FATF) adopted changes to its Recommendations to explicitly clarify that they apply to financial activities involving virtual assets (VA) and to virtual asset service providers (VASPs).

By partnering with XReg Consulting, VASPs will benefit significantly from our experience of regulating virtual assets and our related public policy expertise.

We ensure our clients are fully informed about new and changing regulations and global trends relating to the regulation of virtual assets. We provide strategic and policy advice relevant to our clients’ business, as informed by regulatory requirements, market initiatives and macroeconomic policies to ensure the long term success of our clients’ businesses.

We support clients in their engagement with regulators and assist them throughout the registration or authorisation process. We work closely with our clients to design and implement lean, proportionate controls that helps our clients manage risks and ensure compliance with regulatory obligations without compromising on commercial objectives. This includes formulating policies and procedures, submission of financial forecasts and projections and responding to requests for information.

Relying on our regulatory expertise, we assist board of directors, senior management, Money Laundering Reporting Officers and compliance personnel, assess and meet both current and forthcoming regulatory obligations in any jurisdiction in which they operate.

We undertake independent non-financial audits in relation to anti money laundering and counter-terrorist financing policies and procedures, risk management frameworks and governance arrangements.

Our team can provide training and education to directors and staff in relation to regulatory requirements, risk management and compliance matters.

With XReg as your partner, your business will thrive, exploiting new business opportunities that confidently leverage innovation and embrace regulation.