Europe tightens crypto regulations with new anti-money laundering laws
Summary
New AML regulations in Europe require strict KYC procedures for crypto asset service providers to combat money laundering. The laws cover non-financial sectors like gambling and sports clubs. A new regulatory body, AMLA, will oversee compliance. The regulations impact centralized exchanges under MiCA and are expected to be enforceable by the end of 2026. The EU Parliament passed the AML package with 479 votes in favor. Initial proposals threatening the crypto sector were scaled back.
