The financial watchdog’s amendments to the Special Payment Act are expected to be enforced starting in March 2021. The crypto bill calls for existing exchanges to employ sufficient Know Your Customer, or KYC, and anti-money laundering, or AML, policies. Exchanges must also report their operations within six months of the law’s implementation. In addition to not handling privacy coins, virtual asset service providers are required to confirm the real names of their customers by verifying them against personal data, such as national identity numbers.
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Source: Cryptocurrency - investing.com
