Abu Dhabi International Financial Center FSRA revised anti-money laundering rules, emphasizing that the Travel Rule applies to virtual assets

The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi International Financial Center has announced revisions to its anti-money laundering and sanctions rules and guidelines to clarify requirements that previously appeared in anti-money laundering rules, reflecting the UAE’s efforts to combat money laundering, the financing of terrorism and proliferation and Ensure compliance with the federal regulatory framework in place for targeted financial sanctions rules; in particular, some minor draft changes have been made to wire transfer provisions to make it clearer that the Financial Action Task Force’s (FATF) “Travel Rule” applies to virtual assets.