Finma Guidance Payments on the blockchain

Cryptocurrencies and related technologies create new opportunities for criminals and terrorists to launder their proceeds or finance their illicit activities.1 In light of this, the Financial Action Task Force (FATF) set about strengthening its standards on virtual assets and completed this work on 21 June 2019. The published guidance on virtual asset service providers (VASPs) deals with blockchain service providers such as exchanges, wallet providers and trading platforms. It requires that the existing rules on combating money laundering also apply to such service providers.

 

Document Details

Document Type: 
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Year of Document: 
2019
Date of Document: 
Monday, August 26, 2019
Document Authors: 
Swiss Financial Market Supervisory Authority
Language (This Document): 
English

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