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EU backs crypto anti-money laundering rules

  • 📰 ChannelNewsAsia
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:European Union negotiators on Wednesday reached a provisional agreement on anti-money laundering rules for cryptocurrencies that would spur crypto firms to check their customers' identities, in the latest regulatory tightening of the freewheeling sector.The rules, opposed by major U.S. exchange Coinbase Glob

:European Union negotiators on Wednesday reached a provisional agreement on anti-money laundering rules for cryptocurrencies that would spur crypto firms to check their customers' identities, in the latest regulatory tightening of the freewheeling sector.

Once written, the rules require approval by several bodies to take effect. The oversight would ensure that crypto assets can be traced in the same way as traditional money transfers, the statement added.

 

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EU backs crypto anti-money laundering rules to crack down on dirty moneyEuropean Union (EU) negotiators have agreed on anti-money laundering rules for cryptocurrencies, the European Parliament said in a statement on Wednesday, in the latest sign that regulators are tightening up the freewheeling sector.The rules would require crypto firms such as exchanges to obtain and hold
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