On 30 August, OFSI posted on its blog a piece on what companies’ sanctions reporting obligations are and how they can be met. At the same time, HM Treasury reported that OFSI has updated Chapter 5 (‘Your reporting obligations to OFSI’) of its general guidance to reflect a change following new regulations which, from 30 August, extend the definition of ‘relevant firms’ that have financial sanctions reporting obligations to cryptoasset exchange providers and custodian wallet providers. Chapter 2 of the general guidance (‘Who is subject to financial sanctions’) has been updated.
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NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!