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  3. Swiss regulator FINMA flags surge in crypto ‘stablecoins’ fueling money laundering

Swiss regulator FINMA flags surge in crypto ‘stablecoins’ fueling money laundering

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Switzerland’s Financial Regulator Warns of Potential Rise in Illicit Use of ‘Stablecoin’ Cryptocurrencies

Concerns Raised by FINMA Report

Switzerland’s financial regulator has issued a warning about the possible increase in the use of ‘stablecoin’ cryptocurrencies for illicit finance. The Swiss Financial Market Supervisory Authority (FINMA) has highlighted this concern in a recent report.

Focus on Politically Exposed Persons

The report also indicates that FINMA has intensified its on-site inspections to tackle illicit finance, with a particular focus on addressing concerns related to “politically exposed persons.” This move underscores the regulator’s commitment to cracking down on financial crime.

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Swiss regulator FINMA flags surge in crypto ‘stablecoins’ fueling money laundering
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The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
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