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A special body will now control the AML policy in crypto firms
11.07.2022
The EU will form a special body that will have the authority to check all those who supply CASP or cryptocurrency. Its activities will be aimed at combating money laundering. So, Ernest Urtasun, who is a member of the European Parliament, said that now all circumventions of the rules related to money laundering will finally be excluded.
As announced by the council, the supervisory body that will be created will supervise such financial structures that are risky (including cryptocurrency companies).
In addition, according to Block-chain24, the European Parliament also announced that the EU had reached an interim political agreement on the fact that a state body would manage transfers. Ondrej Kovarzhik, who is a member of the European Parliament, noted that in this way it will be possible to contribute to the fight against money laundering in the crypto-currency space, without giving unnecessary trouble to business and without setting obstacles to innovation.
It became known that the implementation of the project, drawn up in March, means following its requirements, which include the collection and verification by those who supply services related to cryptocurrency of personal information about transfers of any size that are made using non-hosted wallets and to them . It should be noted that this does not apply to P2P transfers that do not have a responsible person.
AMLA, which was proposed last year as a regulatory authority, will be operational in 2 years. This is information proclaimed by the European Commission. This Financial Supervisory Authority belongs to the first body that has the right to exercise control over money laundering in Europe. It should be noted that everything he does will be coordinated with the financial intelligence units of different states and regulatory authorities at the local level.
As announced by the council, the supervisory body that will be created will supervise such financial structures that are risky (including cryptocurrency companies).
In addition, according to Block-chain24, the European Parliament also announced that the EU had reached an interim political agreement on the fact that a state body would manage transfers. Ondrej Kovarzhik, who is a member of the European Parliament, noted that in this way it will be possible to contribute to the fight against money laundering in the crypto-currency space, without giving unnecessary trouble to business and without setting obstacles to innovation.
It became known that the implementation of the project, drawn up in March, means following its requirements, which include the collection and verification by those who supply services related to cryptocurrency of personal information about transfers of any size that are made using non-hosted wallets and to them . It should be noted that this does not apply to P2P transfers that do not have a responsible person.
AMLA, which was proposed last year as a regulatory authority, will be operational in 2 years. This is information proclaimed by the European Commission. This Financial Supervisory Authority belongs to the first body that has the right to exercise control over money laundering in Europe. It should be noted that everything he does will be coordinated with the financial intelligence units of different states and regulatory authorities at the local level.
