Argentina’s crypto companies to be obliged to comply with AML regulations

The country now only requires cryptocurrency service providers to comply with tax reporting rules

16.03.2022 - 13:45

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What’s new? Argentina’s anti-money laundering regulator (UIF) is working to add cryptocurrency service providers to the list of entities required to comply with the anti-money laundering (AML) law, the sources of Buenos Aires Times tell. Cryptocurrency firms will also have to implement know-your-customer (KYC) principles. The UIF plans to publish a new regulation this year.

Link to Buenos Aires Times

Which countries adhere to AML regulations? In February, Italy published new anti-money laundering regulations for crypto companies that define registration and reporting requirements for virtual asset service providers (VASPs). In March, the Bank of Israel published a set of AML regulations requiring banking corporations to conduct risk assessments of money transfer procedures that are made in cryptocurrencies or intended for them. On March 15, the amendments to the law on tightening measures to prevent money laundering and terrorist financing came into force in Estonia.

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