Regulatory Alerts2023-11-22 | https://aifc.kz/legal-framework/guidance-for-aifc-banks-conducting-settlement-for-digital-asset-trading-facility-operators-and-digital-asset-service-providers/Guidance for AIFC Banks conducting settlement for Digital Asset Trading Facility Operators and Digital Asset Service Providers
The Astana Financial Services Authority issued this guidance to regulate how AIFC Banks manage banking relationships and settlement services for Digital Asset Trading Facility Operators and Digital Asset Service Providers. The document mandates that banks conduct rigorous risk assessments and enhanced due diligence to mitigate money laundering and terrorist financing risks before establishing accounts for these entities. It further prohibits third-party fiat transactions and requires banks to verify client ownership of bank accounts while maintaining strict ongoing monitoring of digital asset-related fund flows.
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