Non-EU Virtual Currency Firms To Feel Heat Of AMLD

Incoming European reforms targeting virtual currency businesses will apply anti-money laundering (AML) controls to exchanges and trading platforms — even if they are based outside the EU.

Legislators reached an agreement in December to amend the 4th Anti-Money Laundering Directive (4th AMLD) so that businesses exchanging fiat and virtual currencies would become regulated entities, along with custodian wallet providers.

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