FINMA anti-money laundering rules will be made stricter after the regulators made a proposal on Friday to review anti-money laundering rules on crypto transactions. According to the proposal, clients will be required to provide a means of identification for crypto transactions above 1,000 Swiss francs unlike before when transactions above 5,000 required client identification. According to FINMA, the new rule is necessitated because of the vulnerability of laundering in the crypto space. The newly proposed FINMA anti-laundering rules will align with the “international standards” approved in mid-2019 indicating the Financial Action Task Force’s (FATF) directive from last June. Also, Financial
