Nordic crypto exchange facing trading restrictions
Regulators raise money laundering concerns over Prasos Oy
Someone else facing trading restrictions is Prasos Oy, one of the Nordic region’s biggest crypto-currencies exchanges.
Prasos Oy provides a platform to trade crypto-currencies into euros and also hosts virtual currency “wallets.” Its business volumes grew ten fold over the last year, to close to $200 million, and this spike has caused four of the five Finnish banks that process these transactions to block Prasos Oy accounts, citing money laundering and “know your customer” concerns.
Prasos has asked regulators to set clear guidelines, saying these will allow it to continue trading. Let’s see.