Risk-based Approach to VASPs & NFT as Digital Property & Real Asset

Risk-based Approach to Virtual Assets and Virtual Assets Service Providers

Course description:

This FATF guideline outlines requirements for regulators, VASPs, and other entities involved in virtual asset activities in relation to potential risks in money laundering and terrorist financing. This session will explore examples of risks indicators in VA context and mitigating factors.

Learning objectives:

• Discuss how VASPS and relevant VA activities can be included/or excluded in VA scope
• Discuss applications of recommendation in VA context
• Explore risk-based approach to supervision/ monitoring
• Analyse examples of jurisdictional approaches to regulating VA and VASPs

NFT as Digital Property and Real Asset

NFTs are used to represent digital assets such as art, music, or other digital items. They can also be used to represent real-world assets such as stocks, bonds, real estate, and other physical items. NFTs that represent real-world assets have the potential to revolutionize the way we own, transfer, and trade assets. As this technology continues to develop, the legal challenges that come along with it will also need to be addressed.

Learning objectives:

• Examine the application of NFT technology as digital property and a real asset
• Discuss how NFTs can be linked to physical assets and identify the legal challenges in terms of possession
• Evaluate the benefits and challenges of using NFTs for trading physical assets and transfer of ownership
• Assess underlying legal and regulatory issues