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  • CBB’s Approach to Transfer of Accepted Crypto-assets

    • AML-2A.1.3

      As with financial payment methods, accepted crypto-assets can be used to quickly move (transfer) funds globally and to facilitate a range of financial activities. Similar to mobile or internet based payment services and mechanism, accepted crypto-assets can be used to transfer funds in a wide geographical area with a large number of counterparties.

      Added: January 2020

    • AML-2A.1.4

      The CBB considers transactions involving transfer of accepted crypto-assets as functionally analogous to wire transfer. Therefore, Capital Market Licensees (including crypto-asset licensees), whenever their transaction, whether in fiat currency or accepted crypto-assets, involves (i) a traditional wire transfer, or (ii) an accepted crypto-asset transfer, must comply with the requirements of Paragraph AML-2A.2 unless stated otherwise.

      Amended: January 2022
      Added: January 2020