Sweden's New Crypto Rules Target Professional Money Launderers

Tuesday, 24 September 2024, 04:07

Sweden classifies certain crypto exchanges as ‘professional money launderers’, citing their use by criminals to hide illicit proceeds. This new classification stems from insights by the Swedish Police Authority and the Financial Intelligence Unit, aiming to curb crime via cryptocurrency. Four profiles of exchanges are outlined in the assessment, highlighting growing connections to organized crime.
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Sweden's New Crypto Rules Target Professional Money Launderers

Sweden's Classifications of Crypto Exchanges

In a significant move, Sweden has classified some crypto exchanges and related services as 'professional money launderers'. Authorities assert these platforms facilitate the laundering of crime proceeds via cryptocurrency.

Details of the Classification

  • The Swedish Police and Financial Intelligence Unit (FIU) have identified four types of exchanges involved.
  • These 'professional money launderers' (PML) play roles in organized crime.
  • Criminals exploit exchanges due to the lack of intermediary oversight.

Implications for the Crypto Sector

The report by FIU highlights a troubling trend in criminal activities linked to cryptocurrency. With the rise of illicit businesses and underground networks, these exchanges become critical for maintaining a criminal economy.

Taxation and Regulation

As part of the European Union, Sweden aligns with the MiCA framework to regulate cryptocurrencies, with trading platforms warned to monitor unusual trading patterns.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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