Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 88

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 88
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 the following key elements (1) prohibitions on certain investments made by U.S. persons and their controlled foreign entities in the Chinese semiconductor, microelectronic, quantum information technology, and artificial intelligence sectors; and (2) requirements for U.S. persons to notify U.S. Treasury of certain other investments in these sectors. In terms of crypto assets, stable coins and decentralized finance, the new UK government is expected to further progress to provide legal clarity on the basis of the announcements by the previous government in October 2023 with some changes to the regulatory approach of stablecoins compared to the plans. U.S. authorities maintained scrutiny of crypto-asset activities during 2024. The Federal Reserve Board, FDIC, OCC and the New York State Department of Financial Services (DFS) have continued to require regulated banks to provide written notice to or obtain approval from them prior to engaging in any crypto-asset-related activity. The federal banking agencies and the DFS have further signaled through guidance, public statements, and other actions that all crypto-asset-related activities will be heavily scrutinized. However, the new U.S. administration is expected to take a more accommodating approach to the asset class. Anti-Money Laundering and Other Financial Crime– The political negotiations on the European Commission’s anti-money laundering (AML) and countering the financing of terrorism (CFT) legislative package (referred to as the AML/CFT Package) were concluded and the final package was published and implemented in 2024. The AML/CFT Package contains proposals for a regulation on AML/CFT containing directly applicable rules (AML Regulation), a sixth directive on AML/CFT, a regulation establishing the EU AML/CFT Authority (AMLA), and a Regulation on information accompanying transfers of funds and certain crypto assets (FTR Recast). One key element of the AML/CFT Package is the establishment of an integrated European AML supervisory system closely involving national supervisors and the newly to be established AMLA as well as the creation of a unified AML/CFT regulatory framework which includes directly applicable AML/CFT rules and requirements throughout the EU (single EU rulebook). The single rulebook expands the list of obliged entities and includes harmonized, more detailed and granular rules, among other things, in the area of customer due diligence, beneficial ownership, and AML/CFT risk management. Climate change, environmental and social issues 2024 saw a continuation in the global development of sustainability-related regulation. Key themes over the course of the year