meta_id 3266992

On June 24, 2026, the Central Bank of Iceland (Seðlabanki Íslands) published rules governing virtual asset markets under regulation number 714/2026. The rules establish the regulatory framework for virtual asset activities in Iceland, complementing the broader legislative and regulatory structure for virtual asset market oversight. The rules operate alongside the Law on Virtual Asset Markets (101/2025) and Regulation on Virtual Asset Markets (420/2026), which establish the primary legal and regulatory requirements for market participants. The Central Bank's rules provide detailed operational guidance and requirements for entities operating in Iceland's virtual asset sector, including crypto-asset service providers and related market participants. The rules address key regulatory areas including market conduct, operational standards, and compliance obligations for virtual asset market participants. These requirements apply to all entities engaged in virtual asset activities within Iceland's jurisdiction, ensuring consistent regulatory standards across the sector. The rules took effect on June 24, 2026. Market participants and service providers operating in Iceland's virtual asset markets must ensure compliance with the Central Bank's requirements alongside existing legislative and regulatory obligations. **References:** Central Bank of Iceland, Rules on Virtual Asset Markets, Regulation 714/2026, June 24, 2026, available at https://island.is/stjornartidindi/nr/8872789f-d972-489b-a0ca-7fa81c9ac682