EU anti-money laundering watchdog warns crypto firms of new regulations

Planet Daily News: The EU Anti-Money Laundering Authority (AMLA) has issued a warning to the cryptocurrency industry, requiring businesses to comply with upcoming stricter regulatory provisions, including banning anonymous wallets and privacy coins. The new regulations demand that regulatory bodies review the actual owners and shareholders of crypto asset service providers to ensure they are not involved in money laundering or terrorist financing activities. Crypto companies will also need to provide government agencies with direct, immediate, and unfiltered account data access. These measures will be fully implemented by July 2027. Previously, France and the Netherlands have launched anti-money laundering investigations into Binance, involving issues of terrorist financing and tax fraud. (Decrypt)