The Ministry of Treasury and Finance is introducing new regulations to prevent the laundering of proceeds from crime in asset transactions.

In summary, important points:

Crypto Asset Service Providers (CASP) will be required to gather information about the source and purpose of transactions.

A transaction description of at least 20 characters will be required for each crypto asset transfer.

Withdrawals that are not subject to the travel rule can be made at least 48 hours after purchase/exchange/deposit transactions.

For accounts making withdrawals for the first time, this period will be at least 72 hours.

Users engaged in transactions such as providing liquidity, market making, or arbitrage and who can document the source of funds will be able to transact without limits.