Regulatory Alerts2024-04-22 | 3682Guide for Money Laundering and Terrorist Financing Risk Management for the Digital Assets Industry
The National Digital Assets Commission (CNAD) issued this guide to establish specific Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation of Weapons of Mass Destruction requirements for Digital Asset Service Providers. The document mandates a risk-based approach, requiring DASPs to implement robust internal controls, conduct Customer Due Diligence with a US$1,000 threshold, and strictly adhere to the 'Travel Rule' for virtual asset transfers. It further classifies inherent risks for various authorized activities and outlines supervisory expectations regarding board oversight, compliance officers, and suspicious transaction reporting to the Financial Investigation Unit.
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