Paraguay launches domestic crypto industry survey and will roll out related regulations next year

Paraguay's anti-money laundering (AML) authority, the Anti-Money Laundering Secretariat (SEPRELAD), announced a national crypto investigation last week. Every virtual asset service provider (VASPs) in Paraguay is required to open their books to the government for the first time, and this self-reported information should be submitted on December 20. SEPRELAD officials said the large-scale audit, driven by June's Financial Action Task Force (FATF) guidance on VASP, will help the Paraguayan government understand its domestic cryptocurrency industry and will pave the way for the country's first crypto-specific regulations Road, the regulations will be introduced in the first half of 2020.