Regulatory Alerts2020-09-18
Cryptoasset Token Activity and Regulation Guidance
The Isle of Man Financial Services Authority issued this guidance to clarify the regulatory status of cryptoasset tokens under its technology-neutral framework. Security tokens representing investments and electronic money tokens meeting specific fiat-backed criteria require financial services licenses, while other tokens remain unregulated for financial services purposes. All entities involved in convertible virtual currency activities must register as Designated Businesses and comply with Anti-Money Laundering and Countering the Financing of Terrorism requirements.
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