A WORKSHOP ON VIRTUAL ASSETS WAS ORGANIZED BY THE FINANCIAL INFORMATION UNIT OF MONGOLIA IN COLLABORATION WITH THE WORLD BANK AND THE JAPANESE FINANCIAL SERVICES AGENCY.
Relevant organization have been working together to create a legal environment and improve the system for the virtual assets service providers in Mongolia. In this context, the Financial Information Unit has been actively organizing e-trainings and workshops cooperating with international organizations in this field.
Over 90 representatives from 14 relevant government agencies and commercial banks participated in this training. The Japanese Financial Services Agency presented about the good practices of the virtual asset sector and hold discussion on how to conduct the risk assessment on money laundering and financing of terrorism using the World Bank methodology.
The Japanese Financial Services Agency is a government body responsible for ensuring the stability of the financial system of Japan and monitoring the sector of virtual asset service providers. Japan has become one of the leading countries in the field of virtual asset services pursuing rapid development since 2014, and as of today, there are totally more than 3.5 million customers who uses the virtual asset services.