Guidance: OFSI General licence INT/2024/4761108
Sanctions Classified by Officially
Details for OFSI General licence INT/2024/4761108 - Funds of non-designated third parties involving designated credit or financial institutions (“Personal Remittances”)
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On 28 May 2024, OFSI reissued General Licence INT/2024/4761108 under Regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019 (“The Russia Regulations”) which, subject to certain conditions, allows a Person to make use of the retail banking services of a designated Credit or Financial Institution provided that the payments made or received are intended for the personal use of a Person.
On 26 May 2026 General Licence INT/2024/4761108 was updated to: • Include a new definition of Cryptoasset - A cryptographically secured digital representation of value or contractual rights that uses a form of distributed ledger technology and can be transferred, stored or traded electronically. • Include a new reporting requirement for anyone using Cryptoassets to make or receive a payment under the General Licence, see paragraph 5A for full details of the requirement.
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Read the original at the source: https://www.gov.uk/government/publications/ofsi-general-licence-int20244761108
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Provenance
- Organization
- Office of Financial Sanctions Implementation — imported from official source
- Official source
- https://www.gov.uk/government/organisations/office-of-financial-sanctions-implementation.atom ATOM
- Imported
- September 15, 2026 20:57
- Versions
- 1 recorded
- Identity
https://www.gov.uk/government/publications/ofsi-general-licence-int20244761108#2026-05-...