With 57 votes in favour and no votes against it, El Salvador’s legislative assembly approved its new law against flexible money laundering. His name is “special laws for preventing, controlling, sanctioning money laundering, funding for terrorism, and proliferation of weapons of mass destruction.”
The regulations introduce important changes, such as a reduction in subjects mandated from 20 to 10. Include them in digital asset services and Bitcoin suppliers (BTC).
In order, this Establish an increase in cash limit declared at $15,000 (USD). Additionally, we implement interagency cooperation systems to enhance the persecution of financial crimes.
Representatives for the party’s new ideas emphasized that the law promotes competitiveness, promotes competitiveness, eliminates regulations, protects financial inclusion, and prevents nature or corporations from being excluded from financial products or services by journalistic or internal lists.
A sub-selection of the new idea, Caleb Navarro thought that the new law would strengthen the nation’s capabilities in combating threats that will undermine our economy, and celebrated the inclusion of digital services and Bitcoin as mandated subjects, and concentrated regulations on the country’s true risk actors.
The law aims to fulfill El Salvador’s commitment to Recommendation 15 of the International Monetary Fund (IMF) and International Financial Conduct Group (GAFI) and establishes and guarantees other Latin American countries that cryptographic reports to include virtual assets.
(tagstotranslate)bitcoin(btc)
