The Swiss Financial Market Supervisory Authority (FINMA) passed an anti-money laundering provision on Feb. 7. Citing additional risk, the threshold for unidentified crypto exchange transactions is lowered from 5,000 CHF to 1,000 CHF (approximately $1,020 USD).
The provision comes following the enactment of the new Financial Services Act and Financial Institutions Act, which came into force on Jan. 1. FINMA introduced the revised ordinance in response to these acts, and will hold a consultation on follow-up regulation until April 9.
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