EU's anti-money laundering bill passes final vote, here's what's next for crypto-asset service providers
Powered by @unfoldedThe European Parliament has adopted new rules that require crypto firms to implement due diligence measures and checks on customers' identities to combat money laundering.
Crypto-asset service providers, including centralized crypto exchanges, will be affected by the new law and will have to report suspicious activities to authorities.
The law will be formally adopted by the Council of the EU and will come into effect three years later.
Rumors that the new laws would ban anonymous crypto wallets and self-custodial payments have been debunked, as the law will only apply to CASPs already regulated under MiCA.