📣 EU to Intensify Oversight of Crypto Services
posted 18 Jan 2024
The European Council and Parliament have tentatively agreed to bring the cryptocurrency market under the purview of EU anti-money laundering (AML) and anti-terrorism financing laws.
This new set of regulations will require crypto service providers to conduct thorough client data verifications and report any suspicious transactions above 1000 euros.
Additionally, the legislation is designed to reduce risks associated with self-hosted wallets, mandating rigorous checks for cross-border transactions.
These rules are pending final review and formal approval by the Council and Parliament before they are published in the EU’s Official Journal and enter into force.
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