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Educational content and guides to help you navigate the cryptocurrency landscape
Regulatory Updates
Luxembourg Strengthens Its Regulatory Framework for Crypto Assets
The Luxembourg financial regulator (CSSF) has introduced new guidelines for Virtual Asset Service Providers (VASPs) operating in the country. The updated framework aims to enhance investor protection while maintaining Luxembourg's position as a crypto-friendly jurisdiction.
Read Full Update →EU Finalizes New AML/CFT Regulation for Cryptocurrency
The European Union has finalized its new Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regulation, which includes specific provisions for cryptocurrency service providers. The regulation will take effect in all EU member states, including Luxembourg.
Read Full Update →Luxembourg Publishes Guidance on Cryptocurrency Taxation
The Luxembourg tax authorities have published comprehensive guidance on the taxation of cryptocurrency transactions. The guidance clarifies the tax treatment of various cryptocurrency activities, including trading, mining, and staking.
Read Full Update →Frequently Asked Questions
What is Bitcoin?
Bitcoin is a decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network.
What is multisig technology?
Multisignature (multisig) technology requires multiple signatures to authorize a cryptocurrency transaction. It's like a safety deposit box that needs two keys to open—one held by you and one by another trusted party. This adds an extra layer of security to your digital assets.
Why is cryptocurrency estate planning important?
Cryptocurrency estate planning is crucial because, without proper succession planning, your digital assets could be lost forever upon death or disability. Unlike traditional assets, cryptocurrencies require special technical knowledge and access to private keys for transfer to beneficiaries.
What are AML/KYC requirements for cryptocurrency?
Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements for cryptocurrency involve verifying the identity of users, monitoring transactions for suspicious activity, and reporting such activity to relevant authorities. These measures help prevent illegal activities like money laundering and terrorist financing.
How does Luxembourg regulate cryptocurrency businesses?
Luxembourg regulates cryptocurrency businesses through its Virtual Asset Service Provider (VASP) framework. The CSSF (Financial Sector Supervisory Commission) oversees compliance with Anti-Money Laundering and Countering the Financing of Terrorism regulations. The framework covers activities such as exchange services, transfer services, custody services, and participation in financial services related to virtual assets.
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