Our regular look at notable regulatory and compliance developments in the region.
FATF
2026 focus is on updated requirements (including CDD) with 2027 set as the deadline for comprehensive crypto authorization and structural regulation.
While urging vigilance, FinCEN cautioned that firms should avoid "wholesale or indiscriminate de-risking."
A special taskforce will meet twice monthly and draw up opinions and plans to upgrade the Act on Reporting and Using Specified Financial Transaction Information.
The EU has traditionally taken a cautious approach to crypto and has strong regulations governing the digital assets industry.
US said to be “largely compliant” with a recommendation that countries have rules preventing criminals from hiding dirty money in shell companies.
New proposals aim to reduce ambiguity and lead to a reduction in over-compliance or inconsistent application.
But removal of the country from watchdog's gray list prompts criticism from global anti-corruption groups.