Mexico 🇲🇽
LFPIORPI
Ley Federal para la Prevención e Identificación de Operaciones con Recursos de Procedencia Ilícita. Under Mexican regulations, Virtual Asset Service Providers (VASPs) are classified as “Vulnerable Activity,” regulated by the “LFPIORPI (Art. 17, Section XVI):The regular and professional offering of virtual asset exchange by entities other than Financial Institutions carried out through electronic, digital, or similar platforms that manage or operate by facilitating or performing purchase or sale transactions of such assets owned by their customers or provide means for the custody, storage, or transfer of virtual assets other than those recognized by the Bank of Mexico under the Law Regulating Financial Technology Institutions, including transactions carried out with Mexican citizens from another jurisdiction.Our software covers AML for Vulnerable Activities, risk matrices, establishes reporting thresholds (UMAs), and notifications to the SAT (SPPLD).
International standards 🌎
FATF
Wavy Node implements the Financial Action Task Force recommendations:- Recommendation 15: New technologies (virtual assets)
- Recommendation 16: Travel Rule
Travel Rule
For virtual asset transfers exceeding USD $1,000, Wavy Node verifies that the required originator and beneficiary information is included:- Originator name
- Originator account or wallet number
- Originator address or national ID
- Beneficiary account or wallet number
- Beneficiary name (Coming soon)
Coming soon: support for Colombia, El Salvador, Guatemala, Chile, Argentina, Brazil, USA, European Union.