Law on virtual asset service provider enters into force

Economy
unurzul@montsame.mn
2022-03-07 12:29:47

Ulaanbaatar/MONTSAME/. The Law on Virtual Asset Service Provider and accompanying laws (adopted on December 17, 2021) were published in №6 of the Government Information bulletin on February 14, 2022. The above-mentioned laws entered into force from March 1, 2022 according to Paragraph 26.3 of the Constitution of Mongolia.


Accordingly, legal entities shall not provide virtual asset services without registering with the Financial Regulatory Commission of Mongolia. Please note that legal entities that are not registered as virtual asset service providers by the FRC, shall be subject to liabilities specified in related laws, if they offer virtual assets to the public, organize trading activities, participate in financial activities, and/or provide services.

Please click the links below to see the details.

The Law on Virtual Asset Provider

Amendments to the accompanying laws 

                         

      
                                                                                                                                           Source: Financial Regulatory Commission