Financial firms warned to comply with impending UAE virtual assets AML guidance

Mark Battersby
clock • 3 min read

Financial institutions operating in the UAE will soon have to demonstrate compliance with the new anti-money laundering (AML) requirements set out by the Central Bank of UAE (CBUAE), which have a particular focus on risks related to virtual assets and virtual asset service providers. In a briefing note on 7 June, international law firm Pinsent Masons said the CBUAE's guidance for licensed financial institutions on risks related to virtual assets (VAs) and virtual asset service providers (VASPs) will come into force in July 2023. The guidance primarily focuses on risks in relation to m...

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