EU Just Finalized Crypto Money Laundering Rules
It’s been just revealed that the EU just finished the crypto money-laundering rules that they have been working on. Check out the latest reports below. New crypto regulation in Europe According to the latest reports comi...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
It’s been just revealed that the EU just finished the crypto money-laundering rules that they have been working on. Check out the latest reports below.
New crypto regulation in EuropeAccording to the latest reports coming from CoinDesk, the European Union (EU) finally agreed on landmark anti-money laundering rules for crypto transactions Wednesday, despite industry concerns over the law harming privacy and innovation.
The final proposals will mean customer identity needs to be verified for even the smallest crypto transfers, if it’s between two regulated digital wallet providers – but payments to unhosted private wallets will largely be left out of laundering checks.
EU lawmakers and government reps have been meeting over the last three months to hash out a political deal on the bill, which was introduced in July 2021 by the European Commission.
Some important trustworthy sources told CoinDesk a deal had been reached on the legislation after just over an hour of talks.
More than that, it’s been just revealed that the EU lawmaker Ondřej Kovařík confirmed the provisional deal in a tweet, saying that it “strikes the right balance in mitigating risks for fighting money laundering in the crypto sector without preventing innovation and overburdening businesses.”
Outside the meeting room, Kovařík told CoinDesk that negotiators had found a “good balance” that would not prevent innovation.
“It will allow the further development of crypto in Europe,” Kovařík said.
Crypto bullish predictionsThe bullish predictions about the price of Ethereum and other important coins are out, despite the market massive volatility. Check out the latest predictions here.
According to the latest reports, the popular crypto analyst Michaël van de Poppe is predicting what might be in store for a trio of popular altcoins.
Van de Poppe said recently that the leading smart contract platform Ethereum (ETH) appears to have decent momentum after rallying back from monthly lows under $1,000 on June 18th and 19th.
The post EU Just Finalized Crypto Money Laundering Rules first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Thailand SEC Proposes Stablecoin Rules With 5M Baht Daily Caps for Crypto Transfers
Key Takeaways: Thailand suggests that daily deposits and withdrawals for stablecoins should be capped at 5 million baht. Only veri...
MSCI Cuts Strategy From Global Indexes, Putting Bitcoin Treasury Model Under Pressure
Key Takeaways: Under new classification rules instituted by MSCI, Strategy will be phased out of the global equity index. The chan...
Kraken Parent Payward Swaps Its Headline Metric, Reports $487 Million in Q3 Platform Margin
Payward, the privately held parent of Kraken, publishes selected quarterly figures rather than SEC filings, and until now led them...
U.S. Targets $1.2 Billion From Binance Hack—Where Is the Rest?
The Binance hack recovery has reached a significant milestone: U.S. authorities say more than $1.2 billion in stolen cryptocurrenc...
Griffin Raises $20M to Bring Stablecoin Payments and Card Issuing to Its Banking Platform
Key Takeaways: Griffin raised $20 million in a Series B round at a valuation exceeding $100 million. The UK’s bank is set to intro...
Kraken parent Payward posts $60M Q3 adjusted EBITDA, up from $23M in Q2
Kraken's strategic diversification amid fluctuating trading volumes highlights resilience but hinges on regulatory approvals for f...