Swiss FINMA Warns of Bitcoin’s Money Laundering Risk

By May 14, 2015Bitcoin Business

FINMA, the Swiss Financial Market Supervisory Authority, has issued a report warning about the “increased money laundering risk” posed by Bitcoin, along with similar financial technologies and business practices, and suggests “stronger due diligence.”

The report warns specifically about Bitcoin’s anonymity and international capabilities that could increase the risk of money laundering and terrorist financing.

This stance sits in contrast to FINMA’s relatively relaxed approach to Bitcoin last summer, at which time they referred to the […]

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