EU Planning Tighter Crypto AML Transaction Monitoring Rules
The web of regulation around crypto transactions is gradually tightening, as this innovative area of finance starts to get more structure. A big part of this is ensuring that cryptocurrency doesn't leave loopholes that could be exploited for money laundering purposes. A new EU proposal sets out the requirements for banks to collect data on both senders and recipients in a transaction to help achieve this. Called the 'travel rule,' it will require that cryptocurrency firms start collecting this data...
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