November 10 (SeeNews) - All cash transactions above 10,000 euro ($10,160) will have to be reported to the money laundering prevention office, the Croatian government decided on Thursday, lowering the threshold from 200,000 kuna ($26,600/26,200 euro) currently.
There are two reasons for the amendment: to comply with the national action plan to improve the efficiency of prevention of money laundering and financing of terrorism, and the forthcoming adoption of the euro, finance minister Marko Primorac told a weekly cabinet meeting as seen in a video posted on the government's website.
Besides, providers of services related to virtual assets will have to register with a registry to be set up by the financial services regulator Hanfa, Primorac added.
The Adriatic country of 3.9 million people will join the eurozone as its 20th member as of the beginning of the next year.
(1 euro = 7.634 Croatian kuna)