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ARTICLE · 29 APRIL 2020

Luxembourg Registration Process For Virtual Asset Service Providers

Chevalier & Sciales
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The Luxembourg's Financial Sector Supervisory Authority (CSSF) has issued a statement on April 9 on virtual assets, virtual asset service providers and the related registration process.

LuxembourgFinance and Banking
Olivier Sciales
Olivier Sciales
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The Luxembourg's Financial Sector Supervisory Authority (CSSF) has issued a statement on April 9 on virtual assets, virtual asset service providers and the related registration process.

Under the law of March 25, 2020 amending the legislation of November 12, 2004 on efforts to combat money laundering and financing of terrorism, the CSSF has been designated as the supervisory authority for virtual assets and virtual asset service providers as defined by Article 1(20c) of the legislation. The CSSF's role for service providers domiciled in Luxembourg is limited to registration, supervision and enforcement for AML/CFT purposes only.

Under articles 1(20c) and 7-1(1) of the AML/CFT law, entities that are established or provide services in Luxembourg must register with the CSSF if they are providing one or more of the following services on behalf of their clients or for their own account:

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