The European Parliament has voted to adopt a new set of laws to strengthen anti-money laundering and terrorist financing measures across the EU. The law targets large cash payouts, crypto companies, soccer clubs, and more.
In addition to creating a single rulebook for the 27 countries that make up the European Union, the package approved on Thursday also establishes a Frankfurt-based anti-money laundering authority and establishes related frameworks, particularly the European Union. is to oversee the implementation of the EU-deemed framework. “The most dangerous being.”
“The new law includes enhanced due diligence measures and customer identity checks, after which so-called mandated entities (e.g. banks, asset and crypto asset managers, real estate and virtual real estate agents) You need to report suspicious activity.” [Financial Intelligence Units] and other competent authorities,” it said in a press statement about the vote.
EU crypto policy watchers raised concerns that the requirements imposed on digital assets were unduly strict compared to other financial sectors when the bloc reached a political agreement on the policy package in January. .
The new measures also require people and entities with a “legitimate interest”, including journalists, media professionals, civil society organizations and other competent authorities, to: The aim is to provide “instant, unfiltered, direct and free access to beneficial ownership information”. It's at the EU level. ” Beneficial ownership information refers to identifying information about the entity or person that owns or controls a company.
To become law, the package must be formally adopted by the Council of the European Union, which represents member states' parliaments.
