Crypto around the World covers cryptoasset regulations across various jurisdictions by answering 20 questions. Drawing on the global reach of our regulatory expertise at Baker McKenzie, this publication highlights developments and various approaches in Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) and cryptoassets regulation in EMEA, Asia Pacific, and the USA.
The Spanish Government recently issued a new royal-decree with the aim of protecting retail potential investors in digital financial instruments and assets (Royal Decree). This seeks to counter the increase of mass-market advertising campaigns in relation to the selling of crypto-assets, including bitcoin and other assets using Distributed Ledger Technology (DLT) targeted at the Spanish market.
The UK’s JMLSG has published new sectoral guidance on how cryptoasset businesses should manage money laundering risk.
The European Commission published an updated list of high risk third countries in respect of AML/CTF due diligence.
Implementation of the EU’s Fifth Money Laundering Directive on 10 January 2020 is now fast approaching.
Stakeholders can submit responses until 3 September 2018.