Yesterday afternoon, the bill that includes amendments to the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legitimation of Capital and Financing of Terrorism, requested by the International Financial Action Task Group (FATF), was passed.
An agreement between the fractions and legislator Óscar López’ decision of removing the motions that he presented to the project, allowed the Congress to take that step, which was a priority for the Executive Power in order to avoid being part of that group’s blacklist.
The initiative aims to establish regulations for non-financial professional activities such as physical and virtual casinos, non-profit organizations, sale of precious metals and stones, trusts, third-party fund managers, lenders and pawn shops.