Definition ∞ Virtual Asset Compliance is adherence to regulatory requirements and legal obligations concerning virtual assets, including cryptocurrencies and non-fungible tokens. This involves implementing policies for anti-money laundering, counter-terrorist financing, and sanctions screening. It also includes meeting data reporting, consumer protection, and licensing standards. Compliance ensures that digital asset businesses operate within established legal frameworks.
Context ∞ Virtual asset compliance is a rapidly evolving and critical area for all participants in the digital asset ecosystem. News reports frequently cover new regulations, enforcement actions, and industry best practices aimed at enhancing compliance. The global push for regulatory clarity necessitates continuous adaptation by virtual asset service providers to avoid legal penalties and maintain operational integrity.
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