Ukraine Passes Law on Money Laundering With Crypto Policy Based on FATF

[newshunter]

Ukraine Passes Law on Money Laundering With Crypto Policy Based on FATF

Ukraine’s parliament approves a final version of a money laundering law that will handle virtual assets and virtual asset service providers per FATF guidelines

Source: Ukraine Passes Law on Money Laundering With Crypto Policy Based on FATF

Would appreciate your opinion about this

[Noverteno]

I know that the FATF adopted binding recommendations on June 21 of this year, according to which all cryptocurrency transactions worth more than one thousand euros must be verified. During the year, more than two hundred member countries of this organization must amend their national legislation. Thus, Ukraine implements the FATF decision.
I was a little surprised that the Ukrainian government, setting such a verification threshold of 30,000 hryvnias ($ 1,300), will collect data on public keys for transactions anyway even less than this amount. This is actually a complete control, because if someone exceeds the transaction amount of $ 1300, then you can immediately look at all the transactions that were made on this wallet earlier.

[Alcor]

The law itself is very voluminous. Its text is more than one hundred pages, I wanted to get acquainted quickly, but there is no time with such a volume yet. In Ukraine, not one of the proposed, in my opinion, six different bills on the regulation of cryptocurrencies has yet been adopted, but they are already going to control the volume of transactions.