The European Parliament and the EU Council reached, on Wednesday 29 June, a provisional agreement on the transparency of crypto-asset transfers (see EUROPE B12942A23). This revision of the ‘transfers of funds’ Directive aims to make it more difficult for criminals to use cryptocurrencies for money laundering.
Until today, crypto-asset transfers remained outside the anti-money laundering regime on traceability requirements that apply to wire transfers.
“The new rules will enable law...