EU backs crypto anti-money laundering rules to crack down on dirty money

Published by
Reuters UK

(Reuters) – European Union (EU) negotiators have agreed on anti-money laundering rules for cryptocurrencies, the European Parliament said in a statement on Wednesday, in the latest sign that regulators are tightening up the freewheeling sector. The rules would require crypto firms such as exchanges to obtain and hold information on those involved in cryptocurrency transfers, and provide it to competent authorities if an investigation is conducted. Once written, the rules will have to be approved by several bodies before it can take effect. “The new rules will enable law enforcement officials t…

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