Change feed

The Financial Services Commission approved revisions to the Enforcement Decree of the Act on Reporting and Using Specified Financial Transaction Information, expanding registration requirements, including chief executive officers and controlling shareholders in the scrutiny of major shareholders for VASPs, and strengthening anti-money laundering (AML) and travel rule obligations.

The page was expanded to include detailed licensing and authorisation criteria for FinTech companies, DLT trading facilities, and operations involving cryptobased assets and blockchain.

The Department of Financial Services issued updated guidance on custodial structures for customer protection in the event of insolvency, which supersedes the previous guidance issued on January 23, 2023.

The timeline for the new cryptoasset regime was updated, moving key milestones to later dates.

A new cryptoasset regulatory regime is announced with an expected start date of 25 October 2027.

A new regulatory discussion paper (DP24/4) on Admissions & Disclosures and the Market Abuse Regime for cryptoassets was added, indicating new obligations for crypto firms.

A new prohibition was added against falsely claiming participation in the Dubai Land Department real‑estate tokenisation pilot.

The directive now allows OECD commentaries and FAQs on the CARF to be used as interpretative material for DAC8.

The reporting obligation was expanded to include all EU‑resident users, including those resident in the Member State where the provider is established, and to require RCASPs to collect data on both resident and non‑resident investors.

RCASPs must now register in a Member State if not authorised under MiCA and begin collecting data on EU‑resident users from 1 January 2026.

New data‑format and record‑keeping obligations were added, requiring crypto‑asset service providers to use a standardized JSON schema for order‑book data and to adopt iXBRL formatting for white papers.

A new disclaimer states that white papers in the ESMA register are not reviewed by any competent authority and that the offeror/issuer is solely responsible for their content.

The interim MiCA register update frequency was changed from every two weeks to every week.

New obligations were added: competent authorities must establish complaint handling procedures (Article 108) and ESMA must publish and maintain an interim MiCA register by 30 Dec 2024.

eToro NY LLC’s listed licensure was updated to include a Money Transmitter License in addition to its Virtual Currency License, adding money‑transmitter regulatory obligations.

A new broker reporting requirement was added, mandating brokers to file Form 1099-DA for digital asset transactions with specific effective dates.

The IRS guidance list was shortened, removing Notice 2025-03 and Final regulations 2024-12-30 that previously offered transitional relief and broker reporting rules.

The digital asset question is now required on Form 709 (gift tax return), expanding the scope of returns that must include the question.

A new requirement was added requiring virtual digital asset service providers to register with FIU‑IND as reporting entities.

A new requirement was added requiring virtual digital asset service providers to register with FIU-IND as reporting entities.