UK sanctions package designates HTX and the A7 network, extending Regulation 17A to cryptoasset exchanges and forcing UK VASPs to trace funds across the chain.

Brazil's central bank recently placed virtual asset service providers (VASPs) under the same rules as traditional securities brokerages.

Individuals transacting cryptocurrency on offshore platforms or independently must now report their movements when the amount of crypto transacted surpasses $5,000 per year. Users must now deliver sensitive data, including the purpose of each transaction, hashes, and destination addresses. Paraguay Ramps Up Crypto Reporting Requirements For VASPs and Individuals The government of Paraguay is ramping […]

According to Normative Instruction No. 739, issued on Friday, VASPs will now need to undergo an audit by an approved third-party entity to obtain authorization to operate in Brazil. The requirement adds to an already stringent regulation, making the process of obtaining a license in Brazil more difficult. Central Bank Of Brazil Moves to Add […]

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FATF Updates Standards on Virtual Assets and VASPs

As the cryptoasset sector continues to evolve, regulation is rapidly catching up with technological innovation. In the UK, Virtual Asset Service Providers (VASPs) must ensure that robust customer iden...

NeosLegal has launched a public database for cryptocurrency licenses in the UAE, tracking VASPs authorized by major regulatory bodies. Updated monthly.

With a little over a month until the new crypto regulatory regime’s deadline, local sources indicate that only five VASPs have submitted authorization requests to the Central Bank of Brazil, and one has already been rejected. Only Five Exchanges Have Applied for Operating Licenses in Brazil The Central Bank of Brazil’s proposed and approved crypto […]

Fraud Moves to the Center of Global Crypto Supervision

CryptoMarket and Blockchain News

CryptoMarket and Blockchain News

Taiwan’s FSC issues new Anti-Money Laundering rules, replacing previous regulations and requiring full compliance from Virtual Asset Service Providers (VASPs). By 2025, all local virtual asset service providers (VASPs) will need to abide by new Anti-Money…

CryptoMarket and Blockchain News

Luxembourg classified virtual asset service providers (VASPs) as high-risk entities for money laundering in its 2025 National Risk Assessment (NRA), highlighting concerns over the crypto industry’s exposure to financial crime. According to the report, the inherent risk level of VASPs is deemed “High,” driven by factors including transaction volume, client reach, distribution channels, legal structures and the international scope of operations. The NRA identified VASPs as an emerging risk in its 2020 report after “a detailed assessment of ML inherent risks emerging from virtual assets.” This was followed by a 2022 NRA report deeming “the risks associated with crypto assets and virtual currencies as very high,” because, among other things, they are internet-based and cross-border. Related: Blender and Sinbad operators face US money laundering charges EU’s evolving crypto regulation The EU, of which Luxembourg is a founding member, has been working to regulate the cryptocurrency industry. A key part of this effort is the Markets in Crypto-Assets (MiCA) framework, which is designed to unify crypto regulation across all 27 EU member states. Since January, crypto asset service providers have started acquiring licenses to operate legally within the EU. This includes cryptocurrency exchange Kraken launching regulated derivatives trading and competitor Crypto.com securing a license allowing it to do the same, both this month. MiCA also establishes a new set of requirements for stablecoins. The stablecoin market leader behind USDt (USDT), Tether, refuses to comply with the new rules and was delisted on Crypto.com, Coinbase and leading crypto exchange Binance on their EU platforms. Related: French prosecutors probe Binance over money laundering, fraud allegations: Report Money laundering with crypto As the role of cryptocurrencies in the broader financial ecosystem increases, so does their popularity for money laundering. Earlier this month, Hong Kong police arrested 12 people involved in a cross-border money laundering scheme that relied on crypto and over 500 stooge bank accounts to launder 118 million Hong Kong dollars ($15 million).Crypto value received by illicit addresses per year. Source: Chainalysis According to reports this month, European law enforcement arrested 17 suspects of a “mafia crypto bank” for allegedly laundering over 21 million euros ($23.5 million) in crypto for Middle East and China-based criminal entities. As a result of the proceedings, 4.5 million euros ($5 million) worth of items were seized, including cash, crypto, 18 vehicles, four shotguns and several electronic devices. Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express