Share on LinkedInShare on LinkedIn

ARTICLE · 12 FEBRUARY 2021

Luxembourg's Landscape For Virtual Asset Service Providers Starts To Take Shape

Loyens & Loeff
Loyens & Loeff
Contributor
Loyens & Loeff

Loyens & Loeff

One firm: Law and Tax Loyens & Loeff is a leading independent, full-service law and tax firm in...

View firm profile
Explore more from Loyens & Loeff

Virtual Asset Service Providers (VASPs) are already subject to anti-money laundering / terrorist financing (ML/TF) obligations.

LuxembourgTechnology

Virtual Asset Service Providers (VASPs) are already subject to anti-money laundering / terrorist financing (ML/TF) obligations. In December 2020, the Luxembourg Ministry of Justice released its ML/TF risk assessment with respect to VASPs, which provides interesting insights on the inherent risk of different virtual assets and VASPs as well as the exposure of the traditional financial sector to VASP ML/TF risks. The report also sets out what is expected of VASPs in order to mitigate these risks.

Inherent risk assessment for Virtual Assets and VASPs

The risk assessment recognizes that virtual asset characteristics bring potential improvements but also carry risk of abuse by criminals for ML/TF activities:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from