Team exchange is preparing to integrate a new system to verify the identity of their users. Recently the company has announced its cooperation with financial regulators of Finland, who will help run the new EU rules against money laundering on the basis of LocalBitcoins. Why is it important and what do the users of the CIS?
The crypt under the law
On the website LocalBitcoins, a new post explaining why the coming changes in the rules of the exchange so important for everyone. We will remind, in July of 2018 members of the European Commission was adopted fifth Directive on the prevention of money laundering (5AMDL). In addition to Fiat, the list 5AMDL entered cryptocurrency, cryptogenic and custody services.
Until January 2020, the EU should undertake all necessary reforms to 5AMDL launched in all the countries of the Union. LocalBitcoins is based in Finland, the government has already started preparations for the amendment of existing legislation against money laundering.
The company argued that LocalBitcoins was the first cryptoblepharus, which began close cooperation with local financial regulators. The mission of the developers is “to promote Bitcoin everywhere.” The service manual confident that the new rules confirm the identity will be useful for fundamental traders and investors.
It is noteworthy that the exact changes to the existing rules have not been announced. While they are in development, but must introduce “significant changes” in work LocalBitcoins. We will remind, last month the company was in the center of a major scandal over a hacking attack.
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