News
UAE’s anti-money laundering body endorses framework for virtual assets
08 Sep 2021

A United Arab Emirates committee tasked with fighting money laundering has endorsed a regulatory framework for virtual assets, the Gulf state’s central bank said on Wednesday.

The National Committee for Combating Money-Laundering and Financing of Terrorism and Illegal Organisations has “announced the adoption of a regulatory framework for virtual assets in the UAE, concordant with approved anti-money laundering and combating the financing of terrorism standards,” the central bank – which is one of the committee members – said in a statement.

The central bank and the Securities and Commodities Authority have been tasked with overseeing the implementation of the rules, the statement said.

By Davide Barbuscia, Reuters, 8 September 2021

Read more at Reuters

RiskScreen: Eliminating Financial Crime with Smart Technology

You can claim CPD minutes for this content, by signing up to our CPD Wallet

FREE CPD Wallet