Regulatory Alerts2019-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2019
The Financial Services Commission amended its consolidated licensing regulations to establish a dedicated fee schedule for digital asset custodian services. By adding item FS-1.14 to the First Schedule, the rules mandate a Rs. 175,000 processing fee and a Rs. 350,000 fixed annual fee for this specific activity. The amendments are deemed to come into operation on 1 March 2019, formally integrating digital asset operations into the existing regulatory framework.
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