BRUSSELS, Belgium—The Council of the European Union has agreed on new and stricter anti-money laundering and countering the financing of terrorism (AML/CFT) guidelines for cryptocurrency transactions.
The E.U. body said that the new AML directive, dubbed AMLD6, will among other things recast the E.U. transfer of funds regulation including in the entire crypto sector, Crypto News Flash reported.
Under the new rules that are just awaiting adoption after being endorsed by the European Parliament, all crypto-asset service providers (CASPs) will be obliged to conduct due diligence on their customers when carrying out transactions amounting to €1000.
“In essence, CASPs will have to verify facts and information about their customers in such situations. It further noted that the new regulations will introduce specific ‘enhanced due diligence measures for cross-border correspondent relationships’ for CASPs,” Crypto News Flash said.
Still Free in ’23! The Freshest CU Headlines. Right to Your Inbox.
The biggest, best and freshest news reporting in credit unions remains free in ’23! Each morning CUToday.info delivers its daily update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.