What are the compliance requirements for crypto asset businesses under MICA?

3 answers

• Sutton RoyMay 04, 2023 · 3 years ago
  As an expert in the field, I can tell you that under MICA, crypto asset businesses are required to comply with a range of regulations. These include conducting customer due diligence, implementing anti-money laundering measures, and ensuring the security of customer funds. Additionally, businesses must obtain the necessary licenses and registrations to operate legally. Failure to comply with these requirements can result in penalties and legal consequences.
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• Jon77Jul 08, 2024 · a year ago
  Compliance requirements for crypto asset businesses under MICA are no joke. Businesses need to take customer due diligence seriously and implement robust anti-money laundering measures. They must also ensure the security of customer funds to prevent any unauthorized access or breaches. It's crucial for businesses to obtain the necessary licenses and registrations to operate legally and avoid any legal troubles down the line.
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• SnapMay 06, 2023 · 3 years ago
  Under MICA, crypto asset businesses are expected to meet strict compliance requirements. These include conducting thorough customer due diligence, implementing effective anti-money laundering procedures, and maintaining the security of customer funds. It's important for businesses to stay updated with the latest regulations and ensure that they have the necessary licenses and registrations in place. Compliance is not just a legal requirement but also essential for building trust and credibility in the crypto asset industry.
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