EU Provisionally Agrees Tough Crypto Due Diligence Measures to Combat Money Laundering
Summary
EU policymakers reached a provisional deal on an Anti-Money Laundering Regulation (AMLR) requiring crypto firms to conduct due diligence on customers for transactions over €1,000. The regulation aims to combat money laundering and sanctions evasion, establishing a single rulebook and a supervisory authority with oversight over the crypto sector. The agreement also includes measures to mitigate risks related to transactions with self-hosted wallets. The deal must be formally adopted by the European Parliament and Council before taking effect.
