Designated Businesses and Proceeds of Crime amendment Orders take effect

The Designated Businesses (Amendment) Order 2024 and the Proceeds of Crime (Business in the Regulated Sector) (Amendment) Order 2024 became operational, substituting Schedule 1 of the Designated Businesses (Registration and Oversight) Act 2015 and Schedule 4 of the Proceeds of Crime Act 2008. The changes formed part of the package of measures introduced alongside the Travel Rule (Transfer of Virtual Assets) Code 2024.

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