Cryptocurrency to be regulated by law
13:51 | 30.03.2023 Category: Economic
Chisinau, March 30. /MOLDPRES/- Notions related to virtual currencies will be introduced in national legislation. A draft law was voted today in the second reading by the Parliament.
Thus, it is proposed to introduce new notions of "virtual currency" or "virtual currency service provider". According to the authors of the document, the changes are necessary in the context of the rapid development of this sector and the risk of abusive use of virtual currencies for the purpose of money laundering and terrorist financing.
Also, the draft law provides for the modification of the domestic legislative framework in the field of preventing and combating money laundering by introducing articles aimed at the beneficial owner, politically exposed persons or the measures applied with regard to countries/jurisdictions with increased risk designated by the International Financial Action Task Force.
The draft law was set up based on the recommendations of the MONEYVAL Committee of the Council of Europe.