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CRYPTO ASSETS: FIC ISSUES ELECTRONIC TRANSFER DIRECTIVE
- 18 November 2024
- Financial Sector
- SA Legal Academy
The Financial Intelligence Centre has issued a rules directive affecting accountable institutions transferring or receiving crypto assets by wire. Effective from 30 April 2025, the directive is:
- informed by input received on a consultation document published in April 2024, and
- in keeping with international Financial Action Task Force requirements intended to curb money laundering and terrorist financing.
A consultation feedback document was published with the directive.
According to a notice on the impending new measures, they focus on the information required when processing incoming or outgoing wired crypto asset transactions.
Please click the links below for more information:
- directive
- notice
- consultation feedback document
Published by SA Legal Academy Policy Watch
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