On March 26, a mission from the International Financial Action Group, the global organization dedicated to the prevention of money laundering, will come to Buenos Aires.
Behind the approval of the Money laundering prevention law in it Senatethe National Securities Commission (CNV) published the regulations by which the local exchanges remain required to register and provide information for its regulation.
In this way, the Registry of Virtual Asset Service Providers (PSAV)through which the adequate, accurate and up-to-date information about all the human and legal persons that have the character of virtual registry providers“, they pointed out from the CNV.
The objective of the measure is for the PSVA to exercise functions of supervision, regulation, inspection, inspection and sanction of these suppliers. This initiative arises from the approval of the Law No. 27,739approved on March 14 in the Senate, reforms Law No. 25,246 of Prevention of Money LaunderingFinancing of Terrorism and Proliferation of Weapons of Mass Destructionsanctioned in 2000.
What was approved in the Senate and what it means for crypto companies
A few days ago the Senate approved reform of law 25,246 of prevention of money laundering who had half a sanction from Deputies, which includes changes in the Penal Codein the Financial Information Unit (UIF) and also determines the creation of PSAV.
The rush to approve the project is due to the fact that until March 26th will come to Buenos Aires mission of the Financial Action Task Force (FATF), the global body dedicated to the prevention of money laundering. The Government had to comply with a FATF specific requirement regarding registering crypto companies. If not, it could enter the FATF’s undesirable “gray list,” made up of countries vulnerable to this type of crime.
“We celebrate the unanimous approval of the reform of the Anti-Money Laundering law that will allow the country to comply with international standardsespecially at this moment that is being evaluated by FATF. We hope that the authorities will take advantage of this unique opportunity to not only create a good registry of virtual service providers within the framework of the CNV, but also a Comprehensive and world-class crypto regulationwhich protects users and promotes innovation of our industry and financial inclusion”, express Bitso in a statement about it.
Source: Ambito
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