Regulatory Alerts2024-05-03
FSCA Communication 17 of 2024 (General): FIC Draft Directive on Travel Rule for Crypto Asset Transfers
The Financial Sector Conduct Authority (FSCA) issued this communication to alert supervised accountable institutions that the Financial Intelligence Centre (FIC) requires them to implement the FATF “Travel Rule” for crypto asset transfers through a new Draft Directive. This directive mandates compliance with FATF Recommendation 16 by establishing verification and data-sharing protocols for crypto transactions across listed financial entities. Institutions and stakeholders may submit written comments on the draft framework to the FIC by 31 May 2024.
Share