Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (110 of 2024)

Schedule 6   Services relating to virtual assets

Part 1   Main amendments

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

16   Section 5

Insert:

virtual asset has the meaning given by section 5B.

virtual asset safekeeping service :

(a) means a service in which virtual assets or private keys are controlled or managed for or on behalf of a person (the customer ) or another person nominated by the customer under an arrangement between the provider of the service and the customer, or between the provider of the service and another person with whom the customer has an arrangement (whether or not there are also other parties to any such arrangement); but

(b) does not include a service of a kind prescribed by the AML/CTF Rules.

Virtual Asset Service Provider Register has the meaning given by section 76B.