Regulatory Alerts2023-01-24
Added · Updated
Notice No. 1/2023
This Notice regulates the exercise of virtual asset activities by entities registered with the Bank of Portugal, establishing specific conditions, procedures, and obligations to ensure compliance with anti-money laundering and counter-terrorist financing duties under Laws No. 83/2017 and No. 97/2017. It mandates the establishment of a compliance control function, the designation of a compliance officer and an administrative member, and detailed risk identification and monitoring requirements for virtual asset service providers. The document also defines key terms such as hosted wallets, self-hosted addresses, and relevant collaborators, and updates certain aspects of Notice No. 1/2022.