Frankfurt to Host New EU Money Laundering Watchdog Tasked With Monitoring Crypto
Powered by @unfolded- The EU is establishing a new agency, the AMLA, to ensure compliance with anti-money laundering and counter-terrorist financing obligations across its 27 member states.
- The agency will address risks associated with large cash payments, as well as those posed by cryptocurrencies and their anonymity.
- The AMLA is part of a legislative package aimed at creating a single rulebook for combating money laundering and terrorism financing in the EU.
- Frankfurt has been chosen as the location for the AMLA through a joint vote of the European Parliament and Council.