The cryptocurrency exchange platforms in Peru must provide the Financial Intelligence Unit with the data of the users for security measures.

According to a recent legislative decree of the Peruvian government, user data must be delivered to the agency as a measure to prevent crimes such as money laundering and terrorist financing with cryptocurrencies.

The decree establishes: “Incorporate as obligated subjects to inform the FIU-Peru, in accordance with the provisions of numeral 3.3 of article 3 of Law No. 29038, the Virtual Asset Service Providers (PSAV) that include any physical person or legal entity, domiciled or incorporated in the country, that is not covered in any other of the Recommendations of the International Financial Action Task Force (GAFI)”.

This means that all companies that offer: “exchange between virtual assets and fiat or legal tender currencies; exchange between one or more forms of virtual assets; transfer of virtual assets; custody and/or administration of virtual assets or instruments that allow control over virtual assets and participation and provision of financial services related to an issuer’s offer and/or sale of a virtual asset”.

Exchanges are also required to implement KYC (customer identification) mechanisms in order to keep their data on record.

M.Pino

Source: diariobitcoin

(Reference image source: Unsplash, in collaboration with Getty Images)

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La entrada Peruvian crypto platforms to submit user data to the Government apareció primero en Bitfinance.

In its fight against money laundering in cryptocurrency transactions, the European Union recently announced that it is working on a new regulatory body that provides transparency and peace of mind.

According to a report by The Block, the new anti-money laundering regulator, or AMLD6, will have direct input in the supervision of the crypto market.

The publication describes the implications of this regulator in all the financial entities of the European bloc, they are in conflict with the rules in each jurisdiction. In addition, it explains the task of monitoring digital currency providers, especially those labeled as “high risk”.

The creation of the new regulatory body “could be a major change for the EU, as previous AML directives established lax standards that are somewhat left to the judgment of each jurisdiction; at least for the crypto sector.”

In any case, the negotiations for the creation of the new body are at an initial stage, in which the European Commission, the European Council and the European Parliament participate.

M.Pino

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Source: diariobitcoin

La entrada EU works on new regulator to oversee cryptocurrencies apareció primero en Bitfinance.