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…
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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.