BRUSSELS, Belgium—The European Union has struck an agreement to beef up provisions to tackle money laundering in the bloc, including in cryptocurrency.
The new measures range from strengthening the scope of institutions to monitor dirty money in member states to determining the scope of an E.U.-wide anti-money laundering body or the European Anti-Money Laundering Authority (AMLA), according to MSN.
All provisions are part of an E.U. package to strengthen anti-money laundering at the national level so they can be applied in all member states, MSN.com stated.
According to the E.U., money laundering and terrorist financing pose a serious threat to the integrity of the E.U. economy and financial system and the security of its citizens, the report added.
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