Deep Tide TechFlow News, May 28, According to CriptoNoticias, the Costa Rican Legislative Assembly unanimously approved an amendment to Law No. 7786 during the second debate on May 25, clarifying the anti-money laundering obligations of virtual asset service providers and requiring relevant institutions to register with the Superintendencia General de Entidades Financieras (Sugef).



The law defines virtual asset service providers as natural persons or legal entities engaged in virtual asset and fiat currency exchange, transfer, custody, or management services, requiring them to perform customer and ultimate beneficial owner identification, due diligence, transaction record keeping, and suspicious transaction reporting. The new law partially responds to FATF's previous warnings about regulatory gaps in Costa Rican cryptocurrency oversight.
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