Amendments to the existing FINMA Circulars and Ordinances. FINMA is also expected to abolish three redundant circulars. Similar reforms aimed at market improvements, such as the
Tax reform Swiss debt initiative, show the breadth of Switzerland’s economic modernization efforts. The Swiss Financial Market Supervisory Authority will make amendments to the existing FINMA circulars and ordinances. One of these amendments is to lower the threshold value on cryptocurrency exchange transactions to CHF 1,000. FINMA's Anti-Money Laundering Ordinance (AMLO-FINMA) proposes this amendment.
This amendment also promotes compliance to international standards which the Federal Council approved in Mid-2019. The amendment also acknowledges the high money laundering risks around.
FINMA will hold public consultations on the new ordinances and amendments to the existing FINMA circulars and ordinances up to April 9, 2020. Organizational updates like
FINMA board changes complement the evolving regulatory framework introduced by these follow-up regulations.