Swiss regulator includes AML provisions for crypto transactions

Quick Take

  • Swiss citizens will be obliged to verify their identities for crypto transactions over 1000 Swiss francs from next year.
  • The financial regulator received concerns about the threshold but decided to stick to it, citing the recent instances of abuse.

Switzerland’s financial regulator will include crypto in its anti-money laundering regulations.

From next year, Swiss citizens will need to confirm their identity when conducting crypto transfers of over 1000 Swiss francs ($1005), the Financial Market Supervisory Authority said in a release. 

Finma reportedly received “numerous responses concerning the specification of the threshold for transactions with virtual currencies.” Despite the concerns raised in the consultation, the monetary regulator went forward with the previously established threshold of 1000 Swiss francs due to “risks and recent instances of abuse.”

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The provisions, which will apply to linked transactions over the course of a month, will come into force starting January 2023.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Inbar is a reporter covering crypto policy and regulation with a focus on Europe. Before The Block, she worked with several publications in Brussels including The Parliament Magazine and Are We Europe. Inbar holds a bachelor's degree in international relations from University College Utrecht and a master's degree in international politics from KU Leuven.

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