Tag: Wallet
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Regulatory Watch News
EVENT: Launching the FATF’s Roadmap 26-28 on Combatting Fraud
FATF
On 1 July, the Financial Action Task Force (FATF) will bring together key partners and stakeholders to officially launch its 2026-2028 Roadmap on Combatting Fraud. Fraud is one of the most pervasive and damaging financial crimes affecting individuals, businesses, and the integrity of financial systems worldwide, so tackling the fraud epidemic is one of the FATF’s key strategic priorities under the incoming UK 2026-2028 Presidency. The virtual event, taking place on the first day of the UK Presidency, will bring together members of the FATF Global Network, FATF observers, and other stakeholders and partners to shape the FATF’s response to the global fraud epidemic.
FCA sets landmark crypto rules to cement the UK’s place as a global hub
Financial Conduct Authority
All firms must meet financial resilience requirements including capital and stress testing. The FCA is also introducing new market integrity rules covering areas such as insider trading and market manipulation. The new framework also sets out specific rules for stablecoins, a type of cryptoasset designed to maintain a stable value, typically by being linked to a currency such as the pound. Stablecoins will be subject to clear, strong and transparent standards, helping to build trust in how they are used over time. Following consultation, the FCA has simplified key elements of the regime to make it more workable in practice including simpler capital requirements for stablecoin firms and tailoring trading rules to better reflect how crypto markets operate.
Advisory note on money laundering risks as the MiCAR transitional period ends
AMLA
The MiCAR transitional period will end across the EU on 1 July 20261 . After this date, firms must be authorised as MiCAR-compliant crypto-asset service providers (CASPs) in order to continue providing crypto asset services in the EU. The purpose of this note is to set out the ML/TF risks resulting from the end of the transitional period and identify mitigating measures that can be taken by the crypto asset sector, AML/CFT supervisors and FIUs to address these risks to ensure a coordinated, forward-looking, and risk-based response to safeguard the integrity of the EU financial system
