BTCNextExchange OÜ strictly follows the AML rules of all countries we operate on and have external partners, which represent our services, including Estonian Money Laundering and Terrorist Financing Prevention Act 2017, Philippines Anti-money laundering act of 2001. All BTCNextExchange OÜ is required to periodically certify their understanding of and compliance with the contents of our internal Compliance Manual and policies. Employees receive regular training on topics such as market abuse and anti-money laundering and have an absolute duty to comply with the rules and laws of the jurisdictions in which we operate.
Above all, new international agreements involving a large number of countries have been coming into force recently in order to assist tax authorities to deter and detect tax evasion especially relating to assets held in countries where the owner is not resident for tax purposes.
These international agreements, when implemented, create a legal obligation requiring all financial institutions, including us, to:
obtain extra information from customers;
identify a possible connection, for tax purposes, with another country / other countries;
establish the tax residence of all account holders; and
report the financial account information for identified customers to the relevant tax authorities.