Norway introduces anti-money laundering rules for virtual currency exchanges

30

October 6 2018

Virtual currency exchange providers and businesses that store cryptographic keys face new obligations in Norway, the Financial Supervisory Authority has announced.

The Ministry of Finance has established new money laundering regulations that come into force on October 15, 2018. The new regulations will cover Norwegian providers of virtual currency exchange and storage services. These providers will have to comply with the Money Laundering Act and must be registered with the Norwegian Financial Supervisory Authority. A transitional period has been granted for registering with the Authority – this period lasts until January 15, 2019.