The UK government has published The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2022 and The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2022.
These amendments expands the types of firms required to comply with OFSI’s reporting obligations to include cryptoasset exchange providers and custodian wallet providers. These requirements come into force from the 30th August 2022.
Plenitude’s Digital Assets Practice assembles a team that brings a deep knowledge of regulatory expectations, crypto business models and the associated risks, to help crypto firms navigate the regulatory landscape, the road to registration, and build and implement an effective risk management framework.