Norway’s New Money Laundering Regs To Go into Effect October 15

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Norway’s Financial Supervisory Authority has announced that its new money laundering regulations will go into effect on the 15th of October. The new rules will require Norway’s digital currency exchanges and cryptocurrency storage services to properly register with regulators and comply with the provisions of the Money Laundering Act.

According to Norwegian regulators, the FSA will be responsible for ensuring that exchanges are properly registered in accordance with the law and in full compliance with all relevant AML regulations. The new rules will be applied to all domestic cryptocurrency exchanges as well as foreign entities with branches in Norway. Those rules will require exchanges to provide data about their management teams, services, and transaction details. Providers will also be required to report all suspicious transactions.

Regulators have said, however, that they will not be monitoring investor protections or other service issues.

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