Most privacy laws authorize enforcement by state attorneys general and include civil penalties. And because violations can apply to individual consumer records, regulatory exposure can escalate quickly (each consumer whose rights are violated may be treated as a separate offense, multiplying the total fines and liabilities). Utah’s privacy law now includes a right to correct inaccurate personal data, effective July 1, 2026. These new laws increasingly include unique requirements that call for state-specific compliance programs, adding complexity. Some analysts put the number at 20 data privacy laws, depending on how Florida’s Digital Bill of Rights is categorized.
- The Personal Data Protection Law continues to govern most processing of personal data outside the financial free zones.
- Although many laws still follow the original Virginia-style model, new amendments are beginning to cause the various state laws to diverge significantly.
- Compliance programs can be especially challenging with big data and machine learning, as more companies are dealing with increasingly vast bodies of sensitive data.
- Overall, the BIS’s proposal represents a constructive step toward rethinking AML for crypto, emphasizing data-driven, risk-based oversight rather than replicating legacy fiat-era compliance models.
- The Korea FSC is also expected to submit its draft stablecoin bill to legislators by the end of 2025.
- MiFID 2 (Recital 9 and Article 3) does exclude pure payment services covered under PSD2.
Protecting Sensitive Information
Under the transitional provisions, the firms licensed by Bapebbti have been recognized by OJK. Other service providers who were still in the licensing process with Bapebbti continued the process with OJK, with a number of new licenses being issued over the course of 2025. As of October 2025, there are 29 crypto asset service providers licensed by OJK, including 15 exchanges. Prior to placing a system on the market or putting it into service, providers must carry out the applicable conformity assessment, draw up an EU declaration of conformity, affix the CE marking, and register the system in the EU database.
Personal Privacy & Security
It also backs the Eurosystem’s work on wholesale settlement of tokenized assets in central bank money, framing it as critical to a more integrated EU financial infrastructure. Both countries committed to nurturing a strong, MiCA-compliant European crypto asset market and to managing external risks through equivalence and reciprocity frameworks with third countries. In November, CIMA released findings from a desk-based review of 11 registered VASPs conducted between September 2024 to February 2025. The review identified gaps including inadequate business continuity planning, incomplete internal audit functions, and deficiencies in cybersecurity governance and threat monitoring capabilities. At the same time, the review also noted examples of improving practice, such as the adoption of recognized cybersecurity frameworks by several VASPs and the use of real-time monitoring tools by more advanced operators.
3 Child Digital Safety as a Cybersecurity and Content Governance Instrument
Now more than ever, data protection should be top of mind for anyone working in the compliance space. There’s an increasing number of information security and privacy regulations and standards that companies must conform to in order to do business with their target customers. What’s more, these data protection compliance standards (e.g., SOC 2®, CSA STAR, CMMC, ISO 27001, NIST ) are getting updated more frequently than in the past. This law, also known as the Connecticut Data Privacy Act (CTDPA), recognizes the same consumer privacy, access, portability, and deletion rights as the aforementioned regulations.
What shaped crypto policy in 2025?
The EU also voted to remove the UAE from the EU’s “high-risk” AML list, bolstering its global credibility. Looking ahead to 2026, attention will turn to the implementation of the VASP regime and its impact on the development of Brazil’s crypto and payments landscape. Paul Kirvan, FBCI, CISA, is an independent consultant and technical writer with more than 35 years of experience in business continuity, disaster recovery, resilience, cybersecurity, GRC, telecom and technical writing. NIST has developed an extensive library of IT standards, many of which focus on information security. First published in 1990, the NIST SP 800 series addresses virtually every aspect of information security, with an increasing focus on cloud security. A well-managed IT organization must comply with the requirements set forth in a standard.
Payment Card Industry Data Security Standard (PCI DSS)
- The updated CCPA regulations that became operative January 1, 2026, mandate annual cybersecurity audits for businesses meeting certain revenue and data processing thresholds.
- Vietnam’s significant market opportunity could make it attractive for global crypto businesses to enter the market, in order to avoid losing Vietnamese investors.
- For example, companies operating under GDPR compliance rules are required to notify all affected parties and supervising authorities of a data breach within 72 hours.
- The Digital Operational Resilience Act (DORA) sets a framework for financial entities across the EU.
The BCBS has pledged an expedited review of “targeted elements” of the standards, and we will be watching as the revisions take shape in 2026. As institutional adoption accelerates globally, a more friendly set of prudential standards could drive further https://www.lemonfiles.com/46148/download-acritum-one-click-backup-for-winrar.html momentum for banks in digital assets. The standards were originally finalized in November 2024 with an implementation deadline of January 1, 2026. Of particular concern to many industry stakeholders is the classification of all crypto assets on public blockchains as Group 2 assets, which attract the most stringent prudential treatment.
The exact regulation determines the type of penalties; however, most include huge fines, prosecution, and harm to a firm’s image, which may go further into affecting business activities. Compliance is, therefore, crucial in avoiding penalties and ensuring the smooth running of operations. Secure sensitive data and strengthen privacy controls across hybrid environments with centralized monitoring and automated risk reduction. 2025 brought much progress in regulatory clarity — and more plans will come to fruition in 2026 as implementation deadlines approach. These are the dates and events that are already on TRM’s policy calendar and radar for next year. Meanwhile, the BIS’ Basel Committee on Banking Supervision (BCBS) made a dramatic turn on its standards for the prudential treatment of banks’ crypto asset exposures.