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In the past decade, virtual assets have grown from a $10 billion niche market to a trillion-dollar industry, reshaping global finance, with Luxembourg emerging as a key hub for their adoption and regulation. As of mid-2024, the Commission de Surveillance du Secteur Financier reported a 30% increase in the number of registered Virtual Asset Service Providers compared to the previous year, highlighting the growing institutional and alternative investment fund interest in digital assets. Luxembourg has also seen a strong rise in transaction volumes, with EUR 23 billion in virtual asset exchanges executed by registered VASPs in 2023, primarily involving Bitcoin, Ethereum, and XRP and EUR 1.8 billion in virtual assets were held under custody services by regulated entities. According to Chainalysis, Luxembourg ranks among Europe’s leading countries for cryptocurrency adoption, with over €600 million in virtual asset transactions processed in 2024.
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I am Diego Ofano, a Compliance and Anti-Money Laundering professional based in Luxembourg. I serve as Conducting Officer and RC/MLRO for a financial institution, overseeing regulatory compliance for EU-domiciled funds. My responsibilities include AML/CFT frameworks, due diligence, regulatory advisory, and training. I regularly deal with complex regulatory and operational matters, with a focus on pragmatic and risk-based solutions in the investment funds industry.
I hold a Law Degree from the University of Bologna, a Master in European Business from ESCP, and certifications like CAMS, keeping me current in compliance and technology.