Definition ∞ A Unique Entity Identifier is a distinct code or reference assigned to a legal entity for unambiguous identification across various systems and jurisdictions. This standardized identifier helps to accurately track and categorize organizations involved in financial transactions. It improves data quality and facilitates regulatory reporting.
Context ∞ News reports frequently discuss Unique Entity Identifiers in the context of regulatory compliance for digital asset service providers and financial institutions. It provides context for understanding global efforts to enhance transparency, combat financial crime, and streamline data exchange. This identifier is crucial for establishing clear accountability in the digital economy.
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