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FATF is changing global cryptocurrency regulations

By DAC000 , in Cryptocurrency FATF Regulation , at February 7, 2020 Tags: , ,

First up this evening, Switzerland announced new regulations on cryptocurrency transactions, requiring government ID when buying or selling more than one thousand dollars (about 970 CHF or 775 GBP) of crypto in a single transaction.  Switzerland is the first to adopt last summer’s FATF recommendation, which are followed by roughly 200 nations globally. Switzerland is unlikely to be the only country to adopt this strict regulation.  About a one-minute read.

Comment: Yes, the regulators are starting to flex their muscles with respect to cryptocurrency. So when I buy Bitcoin I always do a cash transaction with a counterparty at a pub. Bitcoin, a drink and an excellent soundtrack — what’s not to like?