11-1.1. Digital Asset transfer

(1) If a Digital Asset Service Provider transfers Digital Assets to another Digital Asset Service Provider:

(a) the originating Digital Asset Service Provider must:

(i) obtain and hold required and accurate originator information and required beneficiary information on the transfer; and

(ii) immediately and securely submit the information in (i) to the beneficiary Digital Asset Service Provider or any other relevant institution as so required by law.

(2) The information in (1) should be stored in a manner such that it cannot be altered and so that it is readily available to AFSA on AFSA’s request.

(3) For the purposes of 1(a), an originating Digital Asset Service Provider must ensure that all transfers of Digital Assets with value equal to or more than USD1,000 involving natural persons are accompanied by:

(a) the name of the originator;

(b) the originator’s digital asset wallet address or account number or (in the absence of an account) unique transaction reference number;

(c) the originator’s physical address, or national identity number, or customer identification, or date and place of birth;

(d) the name of the beneficiary; and

(e) the beneficiary’s digital asset wallet address or account number or (in the absence of an account) unique transaction reference number.

(4) For the purposes of 1(a), an originating Digital Asset Service Provider must ensure that all transfers of Digital Assets with value equal of less than USD 1,000 involving natural persons are accompanied by:

(a) the name of the originator;

(b) the originator’s digital asset wallet address or account number or (in the absence of an account) unique transaction reference number;

(c) the name of the beneficiary; and

(d) the beneficiary’s digital asset wallet address or account number  or (in the absence of an account) unique transaction reference number.

(5) For the purposes of 1(a), an originating Digital Asset Service Provider must ensure that all all transfers of Digital Assets with value equal to or more than USD 1,000 involving Body Corporates are accompanied by:

(a) the registered corporate name or trading name of the originator;

(b) the originator’s digital asset wallet address or account number or (in the absence of an account) unique transaction reference number;

(c) either of the following:

(i) the customer identification number; or

(ii) the registered office address or primary place of business;

(d) the following beneficiary information:

(i) the name of the beneficiary; and

(ii) beneficiary’s digital asset wallet address account number or (in the absence of an account) unique transaction reference number.

(6) For the purposes of 1(a), an originating Digital Asset Service Provider must ensure that all transfers of Digital Assets with value equal of less than USD 1,000 involving Body Corporates are accompanied by:

(a) the name of the originator;

(b) the originator’s account number or (in the absence of an account) unique transaction reference number;

(d) the following required beneficiary information;

(i) the name of the beneficiary; and

(ii) beneficiary’s account number or (in the absence of an account) unique transaction reference number.

(7) The Digital Asset Service Provider should not execute a transaction if it does not comply with requirements set out in (3), (4), (5) or (6), as applicable, and should return the relevant amounts back to the originator. The Digital Asset Service Provider should have appropriate risk-based policies and procedures to determine when to execute, reject or suspend a transfer lacking the required information while at all times complying with these requirements.

(8) In determining the value of a transfer, Digital Asset Service Providers must take a reasonable and justified approach. If multiple transfers from the same originator appear to be linked, they will be aggregated for the purpose of calculating the transfer’s value.

(9) An intermediary Digital Asset Service Provider who participates in transfers of Digital Assets must:

(a) take reasonable measures, consistent with current guidance, to identify transfers of Digital Assets that lack the required originator or beneficiary information;

(b) adopt risk-based policies and procedures to determine when to execute, reject or suspend a transfer lacking the required information; and

(c) keep records for at least 6 years after the completion of the transaction to which it relates.

(10) If several transfers from a single originator are bundled in a batch file for transmission to beneficiaries, they may be exempted from the requirements in respect of originator information, provided that they include the originator’s account number or unique transaction reference number, and the batch file contains required and accurate originator information, and full beneficiary information, that is fully traceable within the beneficiary country.

11-1.2. Digital Asset Transfers to or from self-hosted digital wallets

(1) In case of a transfer of a Digital Asset made to or received from a self-hosted digital wallet, the Digital Asset Service Provider of the originator or beneficiary must obtain and hold information referred to in 11-1.1.(3), (4), (5) or (6) from Clients and ensure that the transfer of Digital Assets can be individually identified.

 

(2) If a Digital Asset transfer exceeds USD 1,000 or there is a suspicion of money laundering or terrorist financing of a transfer to a self-hosted digital wallet, the Digital Asset Service Provider of the originator or beneficiary must take adequate measures on a risk-sensitive basis to mitigate and manage the money laundering and terrorist financing risks associated with the transfer.