Global Anti Money Laundering refers to the international efforts and regulations designed to prevent illicitly obtained funds from being disguised as legitimate assets. This framework involves a coordinated approach among nations, financial institutions, and regulatory bodies. It aims to disrupt financial flows supporting criminal enterprises and terrorism worldwide.
Context
The application of Global Anti Money Laundering standards to digital assets is a significant and evolving regulatory focus. International bodies continue to refine guidelines for Virtual Asset Service Providers, emphasizing the need for robust compliance measures to address the unique characteristics of cryptocurrency transactions and prevent their misuse.
Virtual Asset Service Providers must immediately update compliance architectures to meet standardized global data transmission requirements for transfers over €1,000.
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