EU lawmakers vote to adopt three major texts in anti-money laundering plan applicable to cryptocurrencies
Two legislative committees of the European Parliament passed three key texts in a broad anti-money laundering legislation plan on Tuesday, which also applies to cryptocurrencies. The vote was held after a political agreement was reached on anti-money laundering regulations (AMLR) in January, which will require cryptocurrency service providers to comply with customer verification requirements and monitor cross-border transfers and transactions involving self-hosted wallets.
The legislators voted 71 in favor (4 abstentions, 9 against) to pass an interim agreement on regulating the prevention of money laundering or terrorist financing through the financial system. The mechanism proposed by the 27 EU member states was agreed upon by 74 votes in favor and 5 against. The three documents voted on Tuesday are crucial for the EU's fight against money laundering and will establish a single rulebook to coordinate implementation across the EU.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Treasury Targets Houthi Crypto Wallets, Financial Network
Securitize Reports Highest-Ever Dividend of $4.17 Million for Tokenized Treasury Product
Market Turmoil Hits Pi Network: Investors Face Uncertain Future
In Brief Pi Network's value has sharply declined, alarming many within the community. Experts predict a potential price drop of Pi Coin to $0.1 if trends continue. Investor confidence remains shaky due to regulatory and technical uncertainties.

1 in every 5 Americans hold Crypto: Ripple CLO
Trending news
MoreCrypto prices
More








