Despite substantial work from two top EU regulators on crypto-assets, legal experts believe the likelihood of a new, all-encompassing legal framework for the technology is low.
Industry groups and legal experts have urged Dutch officials to revisit draft anti-money laundering reforms, arguing the burden on virtual currency firms is too heavy — and may inadvertently apply...
On January 10, 2019, Statutory Instrument (SI) 2018 No. 1337 (Financial Services), the Money Laundering and Terrorist Financing (Miscellaneous Amendments) Regulations 2018, came into force....
On January 9, 2019, the European Banking Authority (EBA) published a report on crypto-assets, which includes the results of its assessment of the applicability and suitability of EU law on crypto...
The EU’s top payments regulator has recommended that the European Commission considers further reforms for crypto-assets, warning that some activities are “highly risky” yet fall outside existing...
Financial institutions in Ireland face an onslaught of regulatory reforms to the country’s anti-money laundering and counter-terrorist financing framework as the government seeks to make amends for...
On January 3, 2019, the Department of Justice and Equality published the General Scheme of the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019. The scheme sets out...
Thanks to a barrage of regulatory reforms brought in over the past year, 2019 is poised to be a challenging year for European payments firms. Banks are under intense pressure to complete the...
On July 25, 2018, the Cabinet of the Icelandic government launched a consultation seeking feedback on the proposed comprehensive legal act on money laundering and terrorist financing, which will...
A landmark year for the continent’s payments industry, 2018 oversaw the introduction of major new EU legislation. The shift towards open banking propelled by regulation was accompanied by new rules...
The European Parliament has called for a slew of counter-terrorism financing measures aimed at money transfer businesses, virtual currency users and national authorities, just hours after three...
The Netherlands has laid out the impact that new European anti-money laundering legislation will have on virtual currency exchanges, predicting that the new requirements will cost hundreds of...
The European Commission is set to receive comprehensive reports on crypto-asset usage across the union to help point the direction future regulation should go – although reforms will have to wait...
The European Council has approved an “action plan” to plug holes in the bloc’s anti-money laundering (AML) supervision framework and tasked the European Commission with thrashing out longer-term...
European national authorities are being urged to introduce the 5th Anti-Money Laundering Directive (5th AMLD) early, as the union looks to harden its response to a recent string of financial crime...
On November 12, 2018, the Ministry of Economy, Industry and Competitiveness published a consultation paper on Modification of Law 10/2010, of April 28, on the prevention of money laundering and...

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