Antigua and BarbudaAntigua and Barbuda Digital Assets Business Act 2020, Compliance Officer Report of a Cyber Reporting Event
Digital Assets Business Act, 2020 (No. 16 of 2020), ss. 2(1) and 23
A vulnerability and incident reporting rule binding private bodies.
- Instrument type
- an act of a legislature
- Obligation class
- Reporting
As of .
What it requires
- This Act has been enacted and comes into effect on a day to be appointed by the Minister by Notice published in the official Gazette (section 1(2)), and no commencement notice has been located. When it is in effect it binds a licensed undertaking carrying on digital asset business in or from within Antigua and Barbuda, through its compliance officer (reached by declaring that you are a crypto-asset provider).
- Have your compliance officer notify the Office of National Drug and Money Laundering Control Policy forthwith, in the manner it directs, on coming to know of, or having reason to believe in, a cyber reporting event, meaning any act that results in unauthorized access to, disruption, or misuse of your electronic systems or the information stored on them (section 23(1)(b) and (3)(f), section 2(1)).
- Within 14 days of that notification, have your compliance officer furnish the Commission with a report in writing setting out all the particulars of the case that are available to him (section 23(2)).
These lines are LexLint's reading of the law's text, as of .
Who enforces it
Enforcement body
The Financial Services Regulatory Commission, which the Act defines as the Commission.
Settledness
- As of
- Open questions
- Has the Minister published a Notice appointing the day on which the Digital Assets Business Act, 2020 comes into effect?
What this law does
Section 23(1)(b) of the Act requires a compliance officer of a licensed undertaking to notify the Office of National Drug and Money Laundering Control Policy forthwith, in such manner as it may direct, on its coming to his knowledge, or his having reason to believe, that an event to which the section applies has occurred. Section 23(3)(f) of the Act makes a cyber reporting event one of the events to which section 23 applies.
Section 23(2) of the Act requires the compliance officer, within 14 days of that notification, to furnish the Commission with a report in writing setting out all the particulars of the case that are available to him. Section 2(1) of the Act defines a cyber reporting event as any act that results in unauthorized access to, disruption, or misuse of the electronic systems or information stored on such systems of a licensed undertaking.
Section 1(2) of the Act provides that it comes into effect on a day to be appointed by the Minister by Notice published in the official Gazette. The Governor-General assented to the Act on .
When LexLint raises it
When your app profile says your app is a crypto-asset provider.