Virtual Assets and Virtual Asset Service Providers
As the virtual asset sector is fast-moving and technologically dynamic, continued monitoring and engagement between the public and private sectors is necessary. The Financial Action Task Force (FATF) has updated its 2019 Guidance for a Risk-Based Approach for Virtual Assets and Virtual Asset Service Providers (VASPs).
OFAC: Sanctions Compliance Guidance
OFAC have published guidance and best practice for the virtual currency industry explaining how to comply with OFAC requirements. The most important overriding message is that traditional OFAC sanctions compliance obligations apply equally to transactions involving virtual currencies.