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🇺🇸
New York
New York State Department of Financial Services (NYSDFS)
Licensed Services: Buying, selling, exchanging, transferring, custodial services, and issuance of virtual currency.
Regulatory Scope: Possesses the most comprehensive virtual currency-specific regulatory framework. Licensure signifies ongoing compliance with high cybersecurity standards, anti-money laundering (AML) requirements, consumer asset protection (such as hot/cold wallet insurance), capital adequacy, and detailed compliance reporting obligations.
Regulatory Scope: Possesses the most comprehensive virtual currency-specific regulatory framework. Licensure signifies ongoing compliance with high cybersecurity standards, anti-money laundering (AML) requirements, consumer asset protection (such as hot/cold wallet insurance), capital adequacy, and detailed compliance reporting obligations.
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🇺🇸
California
Department of Financial Protection and Innovation (DFPI)
Licensed Services: Exchange between fiat currency and virtual currency, funds transfer, issuance of payment instruments.
Regulatory Scope: Consumer protection, business transparency, and financial stability. Curve Finance must maintain minimum net asset requirements and submit a surety bond to ensure the ability to repay user funds under any circumstances.
Regulatory Scope: Consumer protection, business transparency, and financial stability. Curve Finance must maintain minimum net asset requirements and submit a surety bond to ensure the ability to repay user funds under any circumstances.
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🇺🇸
Texas
Money Services Business (MSB)
Licensed Services: Money transmission, sale of payment instruments, foreign currency exchange.
Regulatory Scope: Emphasis on compliance management and fund security of business entities. Curve Finance is required to establish robust anti-fraud and AML systems and undergo regular examinations.
Regulatory Scope: Emphasis on compliance management and fund security of business entities. Curve Finance is required to establish robust anti-fraud and AML systems and undergo regular examinations.
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🇺🇸
Florida
Office of Financial Regulation (OFR)
Licensed Services: Money transmission, check cashing, issuance and sale of payment instruments.
Regulatory Scope: Particularly strong oversight in "anti-money laundering" and "combating illicit fund flows." Strict background checks on controllers are required, along with an enforceable compliance program.
Regulatory Scope: Particularly strong oversight in "anti-money laundering" and "combating illicit fund flows." Strict background checks on controllers are required, along with an enforceable compliance program.
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🇺🇸
Illinois
Illinois Department of Financial and Professional Regulation (IDFPR)
Licensed Services: Engagement in money transmission business.
Regulatory Scope: Adherence to unified fund safeguarding (trust account management of customer funds), audit reporting, and annual compliance review systems to ensure lawful and sound operations in the Chicago area and the Midwest region.
Regulatory Scope: Adherence to unified fund safeguarding (trust account management of customer funds), audit reporting, and annual compliance review systems to ensure lawful and sound operations in the Chicago area and the Midwest region.
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🔐
Customer Asset Protection Rules (in the United States)
Trust Regulatory License
Special Purpose Depository Institution (SPDI)
How It Protects Your Assets: 100% Reserve Requirement, Bankruptcy Remoteness, Strict Capital and Compliance Standards
New York State Department of Financial Services - Limited Purpose Trust Charter How It Protects Your Assets: Strict Asset Segregation, Direct NYDFS Supervision and Capital Requirements
New York State Department of Financial Services - Limited Purpose Trust Charter How It Protects Your Assets: Strict Asset Segregation, Direct NYDFS Supervision and Capital Requirements
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🇨🇦
Ontario
Ontario Securities Commission (OSC)
Licensed Services: Cryptocurrency trading platforms, digital asset custody, investment management services.
Regulatory Scope: Registration under Canadian securities law, compliance with investor protection requirements, capital adequacy, cybersecurity standards, and mandatory reporting of suspicious transactions. OSC oversight ensures platform integrity and market fairness.
Regulatory Scope: Registration under Canadian securities law, compliance with investor protection requirements, capital adequacy, cybersecurity standards, and mandatory reporting of suspicious transactions. OSC oversight ensures platform integrity and market fairness.
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🇨🇦
British Columbia
British Columbia Securities Commission (BCSC)
Licensed Services: Digital asset exchange services, money transmission, compliance with provincial securities regulations.
Regulatory Scope: Strict adherence to anti-money laundering (AML) and counter-terrorist financing (CTF) regulations, consumer protection standards, and transparent business practices. BCSC ensures platforms maintain adequate financial resources and implement robust risk management systems.
Regulatory Scope: Strict adherence to anti-money laundering (AML) and counter-terrorist financing (CTF) regulations, consumer protection standards, and transparent business practices. BCSC ensures platforms maintain adequate financial resources and implement robust risk management systems.
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🇨🇦
Quebec
Autorité des marchés financiers (AMF)
Licensed Services: Virtual currency exchange operations, digital wallet services, financial intermediation.
Regulatory Scope: Compliance with Quebec's unique civil law framework, French language requirements, consumer protection laws, and stringent cybersecurity regulations. AMF oversight includes regular audits and enforcement of transparent fee structures.
Regulatory Scope: Compliance with Quebec's unique civil law framework, French language requirements, consumer protection laws, and stringent cybersecurity regulations. AMF oversight includes regular audits and enforcement of transparent fee structures.
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🇨🇦
Alberta
Alberta Securities Commission (ASC)
Licensed Services: Cryptocurrency trading, digital asset management, payment processing services.
Regulatory Scope: Registration as investment dealers or marketplaces under Alberta securities law, compliance with capital requirements, client asset protection rules, and ongoing reporting obligations. ASC focuses on market integrity and investor education.
Regulatory Scope: Registration as investment dealers or marketplaces under Alberta securities law, compliance with capital requirements, client asset protection rules, and ongoing reporting obligations. ASC focuses on market integrity and investor education.
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🇨🇦
Manitoba
Manitoba Securities Commission (MSC)
Licensed Services: Digital currency exchange, money services business operations, compliance with provincial regulations.
Regulatory Scope: Registration under The Currency Exchange Act, adherence to anti-fraud measures, consumer dispute resolution mechanisms, and transparent pricing policies. MSC emphasizes financial literacy and protection of retail investors in the digital asset space.
Regulatory Scope: Registration under The Currency Exchange Act, adherence to anti-fraud measures, consumer dispute resolution mechanisms, and transparent pricing policies. MSC emphasizes financial literacy and protection of retail investors in the digital asset space.
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🔐
Customer Asset Protection Rules (in Canada)
Provincial Trust & Custody Regulations
Ontario Securities Commission (OSC) - Client Asset Protection
How It Protects Your Assets: Segregated trust accounts, regular reporting, and strict capital requirements for custodians.
British Columbia Securities Commission (BCSC) - Investor Protection Fund How It Protects Your Assets: Mandatory participation in investor compensation funds, ensuring client asset recovery in case of platform insolvency.
Quebec AMF - Consumer Protection Framework How It Protects Your Assets: Special consumer protection laws, mandatory dispute resolution mechanisms, and enhanced transparency requirements.
British Columbia Securities Commission (BCSC) - Investor Protection Fund How It Protects Your Assets: Mandatory participation in investor compensation funds, ensuring client asset recovery in case of platform insolvency.
Quebec AMF - Consumer Protection Framework How It Protects Your Assets: Special consumer protection laws, mandatory dispute resolution mechanisms, and enhanced transparency requirements.
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🇦🇺
New South Wales
Australian Securities and Investments Commission (ASIC)
Licensed Services: Digital currency exchange services, cryptocurrency trading, digital asset custody.
Regulatory Scope: Registration under Australian financial services (AFS) licensing regime, compliance with Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF), client money handling requirements, and comprehensive dispute resolution systems. ASIC oversight ensures consumer protection and market integrity in Sydney and across NSW.
Regulatory Scope: Registration under Australian financial services (AFS) licensing regime, compliance with Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF), client money handling requirements, and comprehensive dispute resolution systems. ASIC oversight ensures consumer protection and market integrity in Sydney and across NSW.
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🇦🇺
Victoria
Consumer Affairs Victoria & ASIC
Licensed Services: Virtual currency trading, digital payment services, blockchain-based financial products.
Regulatory Scope: Dual regulatory oversight from ASIC and state-based consumer protection authorities. Compliance with the Australian Consumer Law, mandatory internal dispute resolution procedures, and strict advertising standards. Victoria's regulatory framework emphasizes investor education and fraud prevention in Melbourne's financial sector.
Regulatory Scope: Dual regulatory oversight from ASIC and state-based consumer protection authorities. Compliance with the Australian Consumer Law, mandatory internal dispute resolution procedures, and strict advertising standards. Victoria's regulatory framework emphasizes investor education and fraud prevention in Melbourne's financial sector.
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🇦🇺
Queensland
Office of Fair Trading Queensland & ASIC
Licensed Services: Cryptocurrency exchange operations, digital asset investment services, blockchain technology services.
Regulatory Scope: Compliance with Queensland's specific consumer protection laws, mandatory licensing for financial service providers, and adherence to the National Consumer Credit Protection Act. Focus on regional financial service accessibility and rigorous compliance monitoring in Brisbane and Gold Coast financial markets.
Regulatory Scope: Compliance with Queensland's specific consumer protection laws, mandatory licensing for financial service providers, and adherence to the National Consumer Credit Protection Act. Focus on regional financial service accessibility and rigorous compliance monitoring in Brisbane and Gold Coast financial markets.
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🇦🇺
Western Australia
Department of Mines, Industry Regulation and Safety & ASIC
Licensed Services: Digital currency trading, blockchain-based financial services, cryptocurrency mining operations.
Regulatory Scope: Special focus on resource sector integration with digital finance, compliance with Western Australia's specific business regulations, and adherence to national financial services standards. Perth's emerging fintech ecosystem benefits from tailored regulatory support while maintaining strict consumer protection standards.
Regulatory Scope: Special focus on resource sector integration with digital finance, compliance with Western Australia's specific business regulations, and adherence to national financial services standards. Perth's emerging fintech ecosystem benefits from tailored regulatory support while maintaining strict consumer protection standards.
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🇦🇺
South Australia
Consumer and Business Services & ASIC
Licensed Services: Virtual asset services, digital payment platforms, cryptocurrency investment products.
Regulatory Scope: Integration of South Australia's specific business licensing requirements with national financial regulations. Compliance with the Australian Financial Complaints Authority (AFCA) scheme, emphasis on innovation in Adelaide's fintech sector while maintaining rigorous consumer protection and market fairness standards.
Regulatory Scope: Integration of South Australia's specific business licensing requirements with national financial regulations. Compliance with the Australian Financial Complaints Authority (AFCA) scheme, emphasis on innovation in Adelaide's fintech sector while maintaining rigorous consumer protection and market fairness standards.
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🇦🇺
Customer Asset Protection Rules (in Australia)
Australian Financial Services Licensing Framework
ASIC Client Money Rules
How It Protects Your Assets: Mandatory segregation of client funds in approved trust accounts, regular reconciliation requirements, and strict reporting obligations to ensure full transparency and protection of client assets.
Australian Financial Complaints Authority (AFCA) Membership
How It Protects Your Assets: Mandatory participation in the AFCA external dispute resolution scheme, providing clients with access to independent dispute resolution and potential compensation up to AUD $500,000.
National Consumer Credit Protection Act 2009
How It Protects Your Assets: Comprehensive consumer protection laws including responsible lending obligations, transparent fee disclosure requirements, and strict enforcement of fair contract terms for financial services.
Australian Prudential Regulation Authority (APRA) Oversight
How It Protects Your Assets: For authorized deposit-taking institutions, APRA ensures capital adequacy requirements, liquidity management, and risk management frameworks that indirectly protect client assets held by regulated entities.
How It Protects Your Assets: Mandatory segregation of client funds in approved trust accounts, regular reconciliation requirements, and strict reporting obligations to ensure full transparency and protection of client assets.
Australian Financial Complaints Authority (AFCA) Membership
How It Protects Your Assets: Mandatory participation in the AFCA external dispute resolution scheme, providing clients with access to independent dispute resolution and potential compensation up to AUD $500,000.
National Consumer Credit Protection Act 2009
How It Protects Your Assets: Comprehensive consumer protection laws including responsible lending obligations, transparent fee disclosure requirements, and strict enforcement of fair contract terms for financial services.
Australian Prudential Regulation Authority (APRA) Oversight
How It Protects Your Assets: For authorized deposit-taking institutions, APRA ensures capital adequacy requirements, liquidity management, and risk management frameworks that indirectly protect client assets held by regulated entities.
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🇭🇰
Hong Kong Special Administrative Region
Securities and Futures Commission (SFC)
Licensed Services: Virtual asset trading platform operations, cryptocurrency exchange services, digital asset management.
Regulatory Scope: Licensing under the Securities and Futures Ordinance (SFO), compliance with the SFC's Virtual Asset Trading Platform (VATP) regulatory framework, anti-money laundering (AML) and counter-financing of terrorism (CFT) requirements. SFC oversight ensures market integrity and investor protection in Hong Kong's international financial center.
Regulatory Scope: Licensing under the Securities and Futures Ordinance (SFO), compliance with the SFC's Virtual Asset Trading Platform (VATP) regulatory framework, anti-money laundering (AML) and counter-financing of terrorism (CFT) requirements. SFC oversight ensures market integrity and investor protection in Hong Kong's international financial center.
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🇭🇰
Hong Kong Banking Sector
Hong Kong Monetary Authority (HKMA)
Licensed Services: Digital payment services, blockchain-based banking solutions, virtual asset custody for authorized institutions.
Regulatory Scope: Authorization under the Banking Ordinance, compliance with HKMA's regulatory requirements for virtual banking and fintech initiatives, adherence to the Hong Kong Association of Banks' code of practice. HKMA's regulatory sandbox facilitates innovation while ensuring financial stability in Hong Kong's banking sector.
Regulatory Scope: Authorization under the Banking Ordinance, compliance with HKMA's regulatory requirements for virtual banking and fintech initiatives, adherence to the Hong Kong Association of Banks' code of practice. HKMA's regulatory sandbox facilitates innovation while ensuring financial stability in Hong Kong's banking sector.
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🇭🇰
Hong Kong Insurance Sector
Insurance Authority (IA)
Licensed Services: Cryptocurrency-related insurance products, digital asset protection insurance, blockchain-based insurance solutions.
Regulatory Scope: Authorization under the Insurance Ordinance, compliance with IA's guidelines on insurtech innovation, adherence to professional standards for insurance intermediaries. The IA's regulatory framework supports innovation while maintaining policyholder protection in Hong Kong's insurance market.
Regulatory Scope: Authorization under the Insurance Ordinance, compliance with IA's guidelines on insurtech innovation, adherence to professional standards for insurance intermediaries. The IA's regulatory framework supports innovation while maintaining policyholder protection in Hong Kong's insurance market.
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🇭🇰
Hong Kong AML/CFT Framework
Joint Financial Intelligence Unit (JFIU)
Licensed Services: Virtual asset service provider (VASP) operations, compliance with enhanced due diligence requirements.
Regulatory Scope: Registration under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), implementation of the Financial Action Task Force (FATF) recommendations, mandatory suspicious transaction reporting to JFIU. Hong Kong maintains one of Asia's most robust AML/CFT frameworks aligned with international standards.
Regulatory Scope: Registration under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), implementation of the Financial Action Task Force (FATF) recommendations, mandatory suspicious transaction reporting to JFIU. Hong Kong maintains one of Asia's most robust AML/CFT frameworks aligned with international standards.
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🇭🇰
Hong Kong Investor Protection
Investor Compensation Company Limited (ICC)
Licensed Services: Securities and futures trading, investment advisory services, asset management.
Regulatory Scope: Mandatory participation in the Investor Compensation Fund, compliance with SFC's Client Securities Rules and Client Money Rules, adherence to the Code of Conduct for Persons Licensed by or Registered with the SFC. Hong Kong's investor protection framework includes compensation of up to HKD 500,000 per investor in case of default by licensed intermediaries.
Regulatory Scope: Mandatory participation in the Investor Compensation Fund, compliance with SFC's Client Securities Rules and Client Money Rules, adherence to the Code of Conduct for Persons Licensed by or Registered with the SFC. Hong Kong's investor protection framework includes compensation of up to HKD 500,000 per investor in case of default by licensed intermediaries.
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🇭🇰
Customer Asset Protection Rules (in Hong Kong)
Hong Kong Financial Regulatory Framework
SFC Client Securities Rules & Client Money Rules
How It Protects Your Assets: Mandatory segregation of client securities and funds from firm assets, regular reconciliation and reporting requirements, independent custodian arrangements for client assets, ensuring full protection of investor assets.
Investor Compensation Fund (ICF)
How It Protects Your Assets: Mandatory participation by all licensed intermediaries, provides compensation of up to HKD 500,000 per investor in case of default by a licensed intermediary, funded by levies on market transactions.
HKMA's Banking (Client Assets) Rules
How It Protects Your Assets: For authorized institutions, strict requirements for handling client money, mandatory trust arrangements for certain client funds, enhanced disclosure requirements to ensure transparency in asset management.
Insurance Policyholders' Protection Fund (PPF)
How It Protects Your Assets: Provides protection to policyholders in case of insurer insolvency, covers up to 100% of protected benefits for individual policyholders, ensures continuity of insurance protection.
Financial Dispute Resolution Centre (FDRC)
How It Protects Your Assets: Provides independent, impartial and efficient dispute resolution services for monetary disputes between financial institutions and individual customers, with awards enforceable in court.
How It Protects Your Assets: Mandatory segregation of client securities and funds from firm assets, regular reconciliation and reporting requirements, independent custodian arrangements for client assets, ensuring full protection of investor assets.
Investor Compensation Fund (ICF)
How It Protects Your Assets: Mandatory participation by all licensed intermediaries, provides compensation of up to HKD 500,000 per investor in case of default by a licensed intermediary, funded by levies on market transactions.
HKMA's Banking (Client Assets) Rules
How It Protects Your Assets: For authorized institutions, strict requirements for handling client money, mandatory trust arrangements for certain client funds, enhanced disclosure requirements to ensure transparency in asset management.
Insurance Policyholders' Protection Fund (PPF)
How It Protects Your Assets: Provides protection to policyholders in case of insurer insolvency, covers up to 100% of protected benefits for individual policyholders, ensures continuity of insurance protection.
Financial Dispute Resolution Centre (FDRC)
How It Protects Your Assets: Provides independent, impartial and efficient dispute resolution services for monetary disputes between financial institutions and individual customers, with awards enforceable in court.
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🇸🇬
Singapore
Monetary Authority of Singapore (MAS)
Licensed Services: Digital Payment Token (DPT) services, cryptocurrency exchange operations, digital asset custody services.
Regulatory Scope: Licensing under the Payment Services Act 2019, compliance with MAS's AML/CFT requirements for DPT service providers, adherence to the Technology Risk Management Guidelines. MAS's progressive regulatory framework positions Singapore as a leading fintech hub while ensuring robust consumer protection.
Regulatory Scope: Licensing under the Payment Services Act 2019, compliance with MAS's AML/CFT requirements for DPT service providers, adherence to the Technology Risk Management Guidelines. MAS's progressive regulatory framework positions Singapore as a leading fintech hub while ensuring robust consumer protection.
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🇸🇬
Singapore Capital Markets
Securities and Futures Act Licensing
Licensed Services: Digital token offerings, security token exchanges, blockchain-based investment products.
Regulatory Scope: Licensing under the Securities and Futures Act (SFA) for capital markets services, compliance with MAS's Digital Token Offering Guidelines, adherence to prospectus requirements for security tokens. Singapore's dual regulatory approach distinguishes between utility tokens and security tokens.
Regulatory Scope: Licensing under the Securities and Futures Act (SFA) for capital markets services, compliance with MAS's Digital Token Offering Guidelines, adherence to prospectus requirements for security tokens. Singapore's dual regulatory approach distinguishes between utility tokens and security tokens.
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🇦🇪
Dubai, UAE
Virtual Assets Regulatory Authority (VARA)
Licensed Services: Virtual asset service provision, cryptocurrency exchanges, NFT marketplaces, blockchain services.
Regulatory Scope: Licensing under Dubai's Virtual Assets Regulation Law, compliance with VARA's comprehensive regulatory framework, adherence to FATF's Travel Rule requirements. VARA's jurisdiction covers the entire Emirate of Dubai (excluding the DIFC), establishing Dubai as a global virtual assets hub.
Regulatory Scope: Licensing under Dubai's Virtual Assets Regulation Law, compliance with VARA's comprehensive regulatory framework, adherence to FATF's Travel Rule requirements. VARA's jurisdiction covers the entire Emirate of Dubai (excluding the DIFC), establishing Dubai as a global virtual assets hub.
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🇦🇪
Abu Dhabi Global Market (ADGM)
Financial Services Regulatory Authority (FSRA)
Licensed Services: Virtual asset trading, custody services, blockchain financial services.
Regulatory Scope: Operating within ADGM's common law jurisdiction, compliance with FSRA's comprehensive crypto asset framework, adherence to the Financial Services and Markets Regulations 2015. ADGM provides a robust regulatory environment with English common law foundations.
Regulatory Scope: Operating within ADGM's common law jurisdiction, compliance with FSRA's comprehensive crypto asset framework, adherence to the Financial Services and Markets Regulations 2015. ADGM provides a robust regulatory environment with English common law foundations.
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🇪🇺
European Union
Markets in Crypto-Assets (MiCA) Regulation
Licensed Services: Crypto-asset service provision across all EU member states, cryptocurrency exchanges, wallet services, trading platforms.
Regulatory Scope: Comprehensive EU-wide regulation under MiCA framework (effective 2024), harmonized licensing across 27 member states, compliance with AML5 Directive requirements, consumer protection measures including capital requirements and investor compensation schemes.
Regulatory Scope: Comprehensive EU-wide regulation under MiCA framework (effective 2024), harmonized licensing across 27 member states, compliance with AML5 Directive requirements, consumer protection measures including capital requirements and investor compensation schemes.
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🇩🇪
Germany
Federal Financial Supervisory Authority (BaFin)
Licensed Services: Crypto custody business, proprietary trading with crypto assets, cryptocurrency exchanges.
Regulatory Scope: Licensing under the German Banking Act (KWG) for crypto custody business, compliance with BaFin's strict requirements for financial institutions, adherence to the German Securities Trading Act (WpHG). Germany offers one of Europe's most comprehensive crypto regulatory frameworks.
Regulatory Scope: Licensing under the German Banking Act (KWG) for crypto custody business, compliance with BaFin's strict requirements for financial institutions, adherence to the German Securities Trading Act (WpHG). Germany offers one of Europe's most comprehensive crypto regulatory frameworks.
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🇬🇧
United Kingdom
Financial Conduct Authority (FCA)
Licensed Services: Cryptoasset exchange services, cryptoasset custody services, cryptoasset investment products.
Regulatory Scope: Registration under the Money Laundering Regulations 2017, compliance with FCA's robust AML/CTF requirements, adherence to the Financial Services and Markets Act 2000. The UK's regulatory approach emphasizes anti-money laundering while developing broader cryptoasset regulatory framework.
Regulatory Scope: Registration under the Money Laundering Regulations 2017, compliance with FCA's robust AML/CTF requirements, adherence to the Financial Services and Markets Act 2000. The UK's regulatory approach emphasizes anti-money laundering while developing broader cryptoasset regulatory framework.
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🇯🇵
Japan
Financial Services Agency (FSA)
Licensed Services: Cryptocurrency exchange operations, cryptoasset custody services, crypto payment services.
Regulatory Scope: Registration under the Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA), compliance with Japan's rigorous AML/CFT requirements, adherence to the Japan Virtual Currency Exchange Association (JVCEA) self-regulatory rules. Japan was one of the first countries to establish comprehensive cryptocurrency regulations.
Regulatory Scope: Registration under the Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA), compliance with Japan's rigorous AML/CFT requirements, adherence to the Japan Virtual Currency Exchange Association (JVCEA) self-regulatory rules. Japan was one of the first countries to establish comprehensive cryptocurrency regulations.
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🇨🇭
Switzerland
Financial Market Supervisory Authority (FINMA)
Licensed Services: Crypto finance services, cryptocurrency exchanges, digital asset banking services.
Regulatory Scope: Licensing under the Swiss Banking Act and Financial Institutions Act, compliance with FINMA's ICO Guidelines and AML Ordinance, adherence to the DLT Act framework. Switzerland's "Crypto Valley" in Zug has established the country as a leading crypto finance hub with clear regulatory guidance.
Regulatory Scope: Licensing under the Swiss Banking Act and Financial Institutions Act, compliance with FINMA's ICO Guidelines and AML Ordinance, adherence to the DLT Act framework. Switzerland's "Crypto Valley" in Zug has established the country as a leading crypto finance hub with clear regulatory guidance.
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🇸🇬
Customer Asset Protection Rules (in Singapore)
MAS Regulatory Framework
MAS Client Assets Safeguarding Requirements
How It Protects Your Assets: Mandatory segregation of client money from company funds, daily reconciliation requirements, strict custody arrangements for digital assets, and regular independent audits.
Financial Industry Disputes Resolution Centre (FIDReC)
How It Protects Your Assets: Independent dispute resolution mechanism for consumers, covers disputes up to SGD 100,000, provides affordable and accessible resolution without court proceedings.
Deposit Insurance Scheme
How It Protects Your Assets: For licensed banks and finance companies, provides insurance coverage of up to SGD 100,000 per depositor per institution, ensuring protection of fiat currency deposits.
Capital Requirements for DPT Service Providers
How It Protects Your Assets: Minimum base capital requirements (SGD 50,000 to SGD 200,000 based on services provided), ensuring financial stability and operational continuity of licensed platforms.
How It Protects Your Assets: Mandatory segregation of client money from company funds, daily reconciliation requirements, strict custody arrangements for digital assets, and regular independent audits.
Financial Industry Disputes Resolution Centre (FIDReC)
How It Protects Your Assets: Independent dispute resolution mechanism for consumers, covers disputes up to SGD 100,000, provides affordable and accessible resolution without court proceedings.
Deposit Insurance Scheme
How It Protects Your Assets: For licensed banks and finance companies, provides insurance coverage of up to SGD 100,000 per depositor per institution, ensuring protection of fiat currency deposits.
Capital Requirements for DPT Service Providers
How It Protects Your Assets: Minimum base capital requirements (SGD 50,000 to SGD 200,000 based on services provided), ensuring financial stability and operational continuity of licensed platforms.
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🇦🇪
Customer Asset Protection Rules (in UAE)
Virtual Assets Regulatory Framework
VARA Client Asset Protection Rules
How It Protects Your Assets: Mandatory segregation of client virtual assets from proprietary assets, requirement to hold client assets in cold storage wallets, regular independent audits of custody arrangements.
Compensation Fund Requirements
How It Protects Your Assets: VARA-licensed entities must contribute to compensation funds, provides compensation to clients in case of platform failure or insolvency, enhances overall market confidence.
ADGM Client Money Rules
How It Protects Your Assets: For ADGM-licensed entities, strict requirements for handling client money, mandatory trust account arrangements, enhanced disclosure and reporting obligations.
Insurance Requirements
How It Protects Your Assets: VARA requires licensed entities to maintain professional indemnity insurance and cyber insurance, protecting clients against operational risks and cybersecurity threats.
How It Protects Your Assets: Mandatory segregation of client virtual assets from proprietary assets, requirement to hold client assets in cold storage wallets, regular independent audits of custody arrangements.
Compensation Fund Requirements
How It Protects Your Assets: VARA-licensed entities must contribute to compensation funds, provides compensation to clients in case of platform failure or insolvency, enhances overall market confidence.
ADGM Client Money Rules
How It Protects Your Assets: For ADGM-licensed entities, strict requirements for handling client money, mandatory trust account arrangements, enhanced disclosure and reporting obligations.
Insurance Requirements
How It Protects Your Assets: VARA requires licensed entities to maintain professional indemnity insurance and cyber insurance, protecting clients against operational risks and cybersecurity threats.
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🇪🇺
Customer Asset Protection Rules (in Europe)
EU Regulatory Framework
MiCA Investor Protection Provisions
How It Protects Your Assets: Comprehensive EU-wide rules for crypto-asset service providers, mandatory segregation of client funds, capital requirements based on services provided, and strict liability for loss of client assets.
Deposit Guarantee Schemes (DGS)
How It Protects Your Assets: Across EU member states, protects bank deposits up to €100,000 per depositor per bank, applicable to fiat currency holdings with licensed banks.
Investor Compensation Schemes (ICS)
How It Protects Your Assets: In many EU countries, provides compensation to investors (typically up to €20,000-€100,000) when investment firms are unable to meet their obligations.
GDPR Data Protection
How It Protects Your Assets: Comprehensive data protection regulations ensuring secure handling of personal financial information, right to data portability, and strong penalties for data breaches.
Markets in Financial Instruments Directive II (MiFID II)
How It Protects Your Assets: For investment services, strict requirements for best execution, transparent fee structures, suitability assessments, and enhanced reporting to protect investor interests.
How It Protects Your Assets: Comprehensive EU-wide rules for crypto-asset service providers, mandatory segregation of client funds, capital requirements based on services provided, and strict liability for loss of client assets.
Deposit Guarantee Schemes (DGS)
How It Protects Your Assets: Across EU member states, protects bank deposits up to €100,000 per depositor per bank, applicable to fiat currency holdings with licensed banks.
Investor Compensation Schemes (ICS)
How It Protects Your Assets: In many EU countries, provides compensation to investors (typically up to €20,000-€100,000) when investment firms are unable to meet their obligations.
GDPR Data Protection
How It Protects Your Assets: Comprehensive data protection regulations ensuring secure handling of personal financial information, right to data portability, and strong penalties for data breaches.
Markets in Financial Instruments Directive II (MiFID II)
How It Protects Your Assets: For investment services, strict requirements for best execution, transparent fee structures, suitability assessments, and enhanced reporting to protect investor interests.
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🌍
Global Best Practices in Customer Asset Protection
International Regulatory Standards
FATF Travel Rule Compliance
How It Protects Your Assets: International standard requiring Virtual Asset Service Providers (VASPs) to share originator and beneficiary information for transactions above threshold amounts, combating money laundering and terrorist financing globally.
International Organization of Securities Commissions (IOSCO) Standards
How It Protects Your Assets: Global standards for securities regulation, including principles for market intermediaries, collective investment schemes, and enforcement cooperation across jurisdictions.
Basel Committee on Banking Supervision Guidelines
How It Protects Your Assets: International standards for bank capital adequacy, stress testing, and liquidity risk management, indirectly protecting customer assets held by regulated banking institutions.
Cyber Resilience Requirements
How It Protects Your Assets: Global trend toward mandatory cybersecurity standards for financial institutions, including regular penetration testing, incident response planning, and cyber insurance requirements.
Transparency and Disclosure Standards
How It Protects Your Assets: Increasing global requirements for clear disclosure of risks, fees, and conflicts of interest, enabling informed decision-making by customers across all jurisdictions.
How It Protects Your Assets: International standard requiring Virtual Asset Service Providers (VASPs) to share originator and beneficiary information for transactions above threshold amounts, combating money laundering and terrorist financing globally.
International Organization of Securities Commissions (IOSCO) Standards
How It Protects Your Assets: Global standards for securities regulation, including principles for market intermediaries, collective investment schemes, and enforcement cooperation across jurisdictions.
Basel Committee on Banking Supervision Guidelines
How It Protects Your Assets: International standards for bank capital adequacy, stress testing, and liquidity risk management, indirectly protecting customer assets held by regulated banking institutions.
Cyber Resilience Requirements
How It Protects Your Assets: Global trend toward mandatory cybersecurity standards for financial institutions, including regular penetration testing, incident response planning, and cyber insurance requirements.
Transparency and Disclosure Standards
How It Protects Your Assets: Increasing global requirements for clear disclosure of risks, fees, and conflicts of interest, enabling informed decision-making by customers across all jurisdictions.