Dealers in Precious Metals and Stones (DPMS) which are classified as DNFBPs need to pay close attention when it comes to deal with suppliers in precious metals and stones, it is crucial to be aware of potential red flags in order to avoid relationships that can hinder your business. However, identifying these red flags can […]
In the ever-evolving landscape of virtual assets, the need for regulation has become paramount to ensure the integrity, security, and transparency of Virtual Asset Service Providers (VASPs). The Virtual Assets Regulatory Authority (VARA) stands as a cornerstone for the regulation of VASPs in the UAE, providing a framework for compliance that is essential for the […]
In a recent podcast episode by Nephos Group, Gilson Costa shared his expertise on this topic, highlighting the benefits of compliance and regulation for the industry. Here are some key takeaways from his insights: 1. Building Trust and Confidence: Gilson emphasized the importance of compliance and regulation in building trust and confidence among consumers and […]
Advisory Services Activity In today’s fast-evolving digital landscape, the world of virtual assets is expanding rapidly. Virtual Asset Service Providers (VASPs) operating in the United Arab Emirates (UAE) are subject to a complex regulatory framework designed to ensure transparency, security, and investor protection. To help VASPs navigate these regulations, the UAE’s Virtual Asset Regulatory Authority […]
The Travel Rule has become a crucial aspect of cryptocurrency compliance, especially since the rise of money laundering and terrorist financing activities. To combat these illegal activities, VASPs must share customer information with each other while conducting transactions. To fully understand the importance of the Travel Rule in crypto compliance, VAF Compliance organized a webinar […]
In a recent interview with Khaleej Times, our CEO Gilson Costa, discussed the importance of ensuring digital assets remain legally compliant. In today’s digital age, digital assets have become an integral part of businesses. From cryptocurrencies to digital contracts, digital assets have revolutionized the way we do business. However, with this new technology comes the […]
Elaborating on the Discussion of Crypto Fraud with Hackernoon As the CEO of VAF Compliance, I am honoured to have been interviewed by Olayimika Oyebanji of Hackernoon. Our discussion about crypto fraud highlighted an important issue that continues to plague the cryptocurrency industry. In this article, I will elaborate further on our discussion and underscore […]
Huobi, one of the world’s largest cryptocurrency exchanges, has received a low rating in a recent industry evaluation of compliance practices. The evaluation, conducted by VAF Compliance, assessed the AML (anti-money laundering) and KYT (know your transaction) procedures of various exchanges, and Huobi received a score of only 50 out of 100. It is important […]