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ECONOMY | 15-03-2022 13:24

Argentina to include crypto firms in anti-money laundering regulations

Argentina's money-laundering regulator is working to add service providers in the cryptocurrency ecosystem to its list of entities subject to reporting and recording customer transactions.

Argentina's money-laundering regulator, known as the UIF (Unidad de Información Financiera), is working to add service providers in the cryptocurrency ecosystem to its list of entities subject to reporting and recording customer transactions, according to a person with direct knowledge of the matter.

The plan is to publish the new regulation in 2022, the person said.

Crypto firms will have to implement know-your-customer procedures and report suspicious transactions with digital assets.

In Argentina, the only regulation affecting digital service providers with virtual assets is a 2019 tax rule, which calls for compliance with tax reporting rules.

The UIF's press office did not immediately respond to a request for comment.

 

 

 

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by Ignacio Olivera Doll, Bloomberg

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