{"id":69479,"date":"2022-11-02T17:16:44","date_gmt":"2022-11-02T15:16:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69479"},"modified":"2025-09-07T20:16:34","modified_gmt":"2025-09-07T17:16:34","slug":"switzerland-to-require-verification-for-cryptocurrency-transactions","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/switzerland-to-require-verification-for-cryptocurrency-transactions\/","title":{"rendered":"Switzerland to require verification for cryptocurrency transactions"},"content":{"rendered":"<p>The Swiss Financial Market Supervisory Authority (FINMA) has revised anti-money-laundering rules to include digital assets. This <a href=\"https:\/\/www.finma.ch\/en\/news\/2022\/11\/20221102-mm-gwv-finma\/\">says<\/a> on the regulator&#8217;s website.<\/p>\n<p>Under the amendments, residents must verify their identity when conducting cryptocurrency transactions over 1,000 Swiss francs ($1,005) within 30 days.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis obligation applies only to transactions converting virtual currencies into cash or other anonymous payment methods,\u201d the FINMA website says.<\/p>\n<\/blockquote>\n<p>The regulator added that the new requirements will take effect in January 2023.<\/p>\n<p>Earlier, it was announced that the Swiss city of Lugano would make Bitcoin, Tether (USDT) and the LVGA city token <a href=\"https:\/\/forklog.com\/en\/news\/swiss-lugano-to-permit-bitcoin-and-usdt-payments-within-the-city\">de facto legal tender<\/a>.<\/p>\n<p>In May 2022, the National Bank said that <a href=\"https:\/\/forklog.com\/en\/news\/swiss-national-bank-rules-out-treating-bitcoin-as-a-reserve-currency\">did not intend to buy and hold digital gold<\/a> as a reserve currency.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Swiss Financial Market Supervisory Authority (FINMA) has revised anti-money-laundering rules to include digital assets. This is stated on the regulator&#8217;s website.<\/p>\n","protected":false},"author":1,"featured_media":69480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,468],"class_list":["post-69479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-switzerland"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69479"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69479\/revisions"}],"predecessor-version":[{"id":69481,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69479\/revisions\/69481"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69480"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}