FILE PHOTO: Representations of the Bitcoin cryptocurrency are seen in this illustration picture taken June 7, 2021. REUTERS/Edgar Su/Illustration/File Photo
(Reuters) - El Salvador's law making bitcoin legal tender means banks face higher risks, including of violating rules against money laundering and terrorism financing, rating agency Fitch said in a report on Friday.
The bitcoin move, set to take effect on Sept. 7, "would increase financial institutions' regulatory, financial and operational risks, including the potential of violating international anti-money laundering and terrorist financing standards," said Fitch.
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