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No More Anonymous Crypto Exchanges: FATF Document Proposes Strict User Identification

Published 06/24/2019, 07:06 AM
Updated 06/24/2019, 08:21 AM
 No More Anonymous Crypto Exchanges: FATF Document Proposes Strict User Identification

In 2019, the era of the “free for all” cryptocurrency exchange market may be over. The recently released Financial Action Task Force (FATF) paper reveals a position demanding strict know-your-customer procedures for even relatively small digital asset sales.

“In cases where a [Virtual Asset Service Provider] VASP carries out an occasional transaction, however, the designated threshold above which VASPs are required to conduct CDD is USD/EUR 1,000…” the paper suggests.

This article appeared first on Cryptovest

Latest comments

That's good to know, the fact you were able to exchange crypto by being anonymous were using in a wrong way. There are pages like https://www.mintme.com where every moved is registered, and not only so, when you create your token is the same and the security tech there is just perfect.
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