Regulatory Alerts2023-06-06 | No. E/35/2023Instructions on Registration of Virtual Asset Service Providers and AML/CFT Requirements in Oman
The Capital Market Authority of Oman has issued binding instructions mandating all virtual asset service providers to register with the regulator and comply with established anti-money laundering and counter-terrorist financing requirements. Existing providers must align their operations within three months, while new applicants face a thirty-day approval window and must submit comprehensive documentation covering beneficial ownership, risk assessments, and compliance policies. The framework establishes detailed customer due diligence standards, risk-based enhanced or simplified measures, and clear grounds for registration cancellation to ensure ongoing regulatory oversight.
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