The Joint Money Laundering Steering Group (“JMLSG”) has published the final revisions made to Part II of its Guidance.
The revisions are made to:
➡️ Sector 22: Cryptoasset exchange providers and custodian wallet providers and Annex I.
The revised guidance relates to the provisions of The Money Laundering Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLRs”) that implement the Travel Rule for cryptoasset transfers in the UK.
The new obligations per Regulations 64A-64H came into effect on 1 September 2023.
Firms with exposure to cryptoassets should consult the revised JMLSG Guidance and take any appropriate action.