Argentine cryptocurrency companies will oblige to obey the Law on Laundering Money – Bits Media

Argentina financial intelligence group (IIF) plans to oblige cryptocurrency exchanges and other companies to obey the requirements of the Law on Countering Money Laundering (AML).

Sources of the local publication Buenos Aires Times, "Directly related to this case", Report, that the UIF regulator is going to add cryptocurrency service suppliers to the list of companies, obligated to submit reports on aml procedures. Corresponding changes to regulations should be adopted this year.

If the proposed amendments are approved, This will seriously change the process of work of cryptocurrency companies in Argentina. Now the company, Services offering digital currencies, only tax reports must submit.

Requirements to comply with anti -laundering legislation are already in force in other countries. for instance, The British regulator has ordered cryptocurrency companies to report on compliance with Aml requirements since March 2021 of the year. Recently, the British law enforcement agencies called for compliance with similar requirements and the services of the mishma of cryptocurrency transactions.