Glossary

A document that represents a right to payment and can be transferred to another person. Such as: 

• cheques
• money orders 
• bills of exchange
• promissory notes.

A relationship that involves the provision of a designated service by a reporting entity that’s a remitter, virtual asset service provider or financial institution to a customer that’s a remitter, virtual asset service provider or financial institution where the:

• reporting entity provides the designated service at or through a permanent establishment in one country
• customer uses the designated service to provide services to its own customers at or through a permanent establishment in another country
• the relationship isn’t a correspondent banking relationship.

Unique digital tokens recorded on a blockchain or other distributed ledger technology. They can represent ownership of an assets or right and aren’t interchangeable with other tokens. 

They are virtual assets that trigger AML/CTF regulation if they function as a store of value, unit of account or medium of exchange, or as a governance token. They can also be used as collectables, digital avatars or for other purposes which do not trigger AML/CTF regulation.