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Key facts:
Prasos is a broker of crypto leader in the nordic countries that operates with the service Coinmotion.Prasos has more than 80,000 customers and its services are Coinmotion.com, Bittiraha.fi and Denarium.com.The Financial Supervision Authority of Finland (FIN-FSA) has published a record of the service providers cryptocurrencies that meet the standards of the prevention of laundering of capitals of the European Union. From the November 1, 2019, only those providers of digital currencies to comply fully with the legal requirements will be able to exercise their activity in Finland. In the near future all operators of cryptocurrencies who want to offer their services to european customers must be registered in the corresponding financial authority of your country.Finland is the first country in the EU to implement a registry that meets the requirements of the 5th Directive (EU) 2018/843 whose deadline for transposition is January 2020, the date at which all member states must establish a registration process similar to the Finnish. Following the example of Finland, the United Kingdom through the Financial Conduct Authority (FCA) in the United Kingdom and the DNB in the Netherlands, are already working on initial proposals in which the standards to be met will likely be very similar to those implemented in Finland.The new directive improves the safety of the client in this market because it requires companies to comply with certain requirements in the administration of client assets, prevention of money laundering and management reliable. In Finland there are already 5 operators that meet the necessary requirements and Prasos, a broker of cryptocurrencies leader in the nordic countries that operates with the service Coinmotion, is the only one of these 5 providers also have a license of the Institution of Means of Payment.The policy of prevention of money laundering and the financing of terrorism will apply to all suppliers operating within the European Union. The companies of the sector in general have reacted positively to this new regulation, as this will exert more pressure on those providers who operate outside the EU and catering to european customers without any related standard Know your Customer (KYC) or anti money laundering (AML).The Director of Regulatory Compliance of Prasos, Jukka Karhapää, considers it as a positive change:
“For the end user, the registry provides transparency into the use of the services of sale of cryptocurrencies. Above all, the requirements to meet the customers to evaluate potential risks associated with money laundering and the financing of terrorism benefit both consumers and the businesses of this industry. In addition, it is of great help to increase the trust and reputation of the general public in the growing sector of the cryptocurrencies”.
Please refer to the official announcement of the FIN-FSA here.Additional information and request for interviews:Heidi Hurskainen
CEO of Prasos Ltd
(email protected), tel. +358 44 231 6864Henry Brade
Chairman of the Board, founder and vice CEO of Prasos Ltd
(email protected), tel. +358 41 501 4485Raúl Lopez
Country Manager in Spain of Coinmotion
(email protected), tel. 631 799 987
About Prasos:
Prasos Ltd is focused on providing safe and secure services for the exchange and storage of cryptocurrencies. The company was founded in Jyväskylä (Finland) in 2012 and reached € 4.7 million of income during the last financial year. Has conducted 4 rounds of financing getting 2,89 million euros of investment.Prasos has more than 80,000 customers and its main services are: Coinmotion.com, Bittiraha.fi and Denarium.com. More information can be found in Prasos.fiDescargo of liability: The contents and the links provided in this article only meet for informational purposes. Breaking News does not provide recommendations or advice on legal, financial, or investment, or replace the due diligence of each interested party. Breaking News does not endorse any investment offer or similar here promoted. For more information click here.