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NEWS: Swiss regulator FINMA warns of rise in crypto ‘stablecoins’ being used for money laundering

The logo of Swiss Financial Market Supervisory Authority FINMA is seen outside their headquarters in Bern

BY PAUL O’DONOGHUE, Senior Correspondent

SWITZERLAND’S financial regulator has warned of possible rise in ‘stablecoin’ cryptocurrencies being used in illicit finance.

A new report from the Swiss Financial Market Supervisory Authority (FINMA) also said that concerns over “politically exposed persons” have become a focus of on-site inspections looking to crack down on illicit finance.

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