Question 1

What is a VASP under FATF?

Accepted Answer

A Virtual Asset Service Provider — any natural or legal person conducting, as a business, exchange between virtual assets and fiat / between virtual assets, transfer of virtual assets, custody / administration of virtual assets or instruments enabling control over them, or participation in / prov...

Question 2

What is MiCA and how does it interact with AML?

Accepted Answer

The EU Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114) is a market-conduct and prudential regime for crypto-asset service providers, in force from 30 December 2024. It is not an AML regime — that role is filled by the AMLR, AMLD6, and the TFR ((EU) 2023/1113). However, MiCA author...

Question 3

What are the AML obligations of a US crypto exchange?

Accepted Answer

A convertible-virtual-currency exchanger or administrator is a Money Services Business under FinCEN's regulations (31 CFR §1010.100(ff)) and must register, implement an AML programme, file CTRs and SARs, and comply with the BSA travel rule (USD 3,000 threshold). State money-transmitter licensing...

Question 4

What is the UK FCA crypto regime?

Accepted Answer

UK cryptoasset firms must register with the FCA under the MLRs 2017 (since 10 January 2020) for AML supervision. From 8 October 2023 the financial-promotions regime applies to qualifying cryptoassets, requiring promotions to be authorised, exempt, or approved by an authorised firm. Future legisla...

Question 5

What is blockchain analytics in compliance terms?

Accepted Answer

Tooling that links on-chain addresses to real-world entity attributions (exchanges, mixers, sanctioned services, ransomware operators, darknet markets) and traces fund flows. Used for transaction monitoring, sanctions exposure assessment (especially after OFAC designations of mixers like Tornado...

Fintech, crypto & virtual asset service providers