The FIC guidelines list crypto asset services providers as accountable institutions due to the risk that crypto assets can be used to facilitate moneylaundering and terrorist financing. Read more here 👇
The Financial Intelligence Centre is moving on crypto after publishing the final guidance for crypto asset services providers. This means that these service providers have to report their transactions, which will help to prevent money laundering.
Exchanging one form of crypto asset for another, for example where a client requests a service provider to take a specific crypto asset in exchange for other crypto assets and the service provider provides the services at a cost as part of its operations. Participation in and provision of financial services related to an issuer’s offer or sale of a crypto asset, such as when a business determines that there will be an initial coin offering and the business offers its clients and prospective customers financial services related to the initial coin offering.Accountable institutions
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