UK Broadens 'Relevant Firm' Definition to Include Crypto Exchange Providers
The U.K. created two new instruments under its Sanctions and Anti-Money Laundering Act 2018 to address certain gaps in its sanctions enforcement regime. Both instruments introduce new powers to authorize government agencies to share information to assist HM Treasury in…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
carrying out its sanctions functions, the Foreign, Commonwealth and Development Office said, with the new powers coming into force Aug. 9. The instruments also widen the definition of a "relevant firm" to include crypto-asset exchange providers and custodian wallet providers, with this change entering into force Aug. 30, the FCDO said.