Regulatory Alerts2023-09-14
Notice No. 4/GBM/2023, of 14 September - Requirements for the Registration of Virtual Asset Service Providers
The Bank of Mozambique issued Notice No. 4/GBM/2023 to establish a comprehensive legal framework and registration process for Virtual Asset Service Providers operating in or from Mozambique. The regulation mandates that all entities conducting virtual asset exchanges, transfers, custody, or related financial services must obtain prior registration, submit extensive documentation proving financial soundness and clean legal records, and adhere to strict corporate governance, risk management, and anti-money laundering obligations. Furthermore, the Notice outlines procedures for application review, registration validity, cancellation grounds, and prudential supervision, with violations subject to sanctions under Mozambique's anti-money laundering law.