Legal experts have suggested to EU lawmakers that the scope of the incoming 5th Anti-Money Laundering Directive (5th AMLD) could be revised to include a broader range of cryptocurrency businesses.
Speaking on Thursday to a special European Parliament committee on money laundering, terrorist financing and tax evasion, corporate finance lawyer Robby Houben welcomed the decision to bring exchanges and wallet providers under regulatory oversight for the first time.
However, he said the limited number of businesses that would cover means technology-savvy criminal groups could easily continue laundering money outside the directive’s scope.
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