• finma cryptorcurrency regulation

    Swiss regulator calls for stricter crypto reporting rules

    Switzerland’s financial watchdog wants to lower the transaction reporting threshold for cryptocurrency exchanges from $5,000 to $1,000

    The Swiss Financial Market Supervisory Authority, or FINMA, said Friday that it will propose an ordinance for stricter anti-money laundering laws for cryptocurrency businesses. The proposal calls for reducing the threshold for reporting cryptocurrency transactions from the current limit of 5,000 Swiss Francs (roughly $5,120) to 1,000 Swiss francs (roughly $1,025).