The Swiss Financial Market Supervisory Authority (FINMA) has revised anti-money-laundering rules to include digital assets. This says on the regulator’s website.
Under the amendments, residents must verify their identity when conducting cryptocurrency transactions over 1,000 Swiss francs ($1,005) within 30 days.
“This obligation applies only to transactions converting virtual currencies into cash or other anonymous payment methods,” the FINMA website says.
The regulator added that the new requirements will take effect in January 2023.
Earlier, it was announced that the Swiss city of Lugano would make Bitcoin, Tether (USDT) and the LVGA city token de facto legal tender.
In May 2022, the National Bank said that did not intend to buy and hold digital gold as a reserve currency.
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