AML laws and regulations and corresponding duty of due diligence applies, if the service provider maintains the private key. Custodian wallet provider: AMLA applies (Supervision & AML) Provision of safekeeping and enabling clients to send and receive crypto assets if provider orders the transfer of cryptocurrencies for clients, a payment transaction service is provided has … Continued
Home / Storage Provider
Storage Provider
Wallet App Developers
Wallet App Developers Development of software that enables users to manage their tokens does not constitute a financial service under the Financial Services Act, even if the tokens themselves are financial instruments (i.e. types of securities token). Wallet App Developers are thus usually not regarded as financial intermediaries and not subject to the AML laws … Continued