Switzerland tightened control over cryptocurrency operations

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Supervision Service for Financial Markets Switzerland (FINMA) adopted a provision that any cryptocurrency transactions in the amount of more than $ 1,000 cannot be anonymous.

Control tightening is associated with the fulfillment of the requirements of the June FATF Directives.

The new position will come into force on the first of January next year together with new laws on financial services and financial institutions. From this point on, all Swiss operators working with cryptocurrency will have to collect data on each who intend to make a transaction over $ 1,000. This organization must be regularly transferred to the authorities.

A group of development of financial measures to combat money laundering initiated a reduction in the limit to reduce the use of uncontrolled digital assets in the shadow sector. New FATF requirements also became

In addition, the FATF plans to create a system

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