EU agrees on stricter rules to combat moneylaundering and capture cryptoassets

hl.co.uk:

We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Newsroom

Newsroom articles are published by leading news agencies. Hargreaves Lansdown is not responsible for an article's content and its accuracy. We may not share the views of the author.

HL Podcast

HL Insight

The European Union reached a provisional deal on Thursday to improve how national authorities work with each other to combat moneylaundering, including in the crypto sector.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

18 Jan 2024

Representatives of EU states and the European Parliament reached the deal in negotiations that concluded in the early hours of Thursday, aiming to end the current differing national approaches to fighting money laundering.

«This will ensure that fraudsters, organised crime and terrorists will have no space left for legitimising their proceeds through the financial system,» Vincent Van Peteghem, finance minister for Belgium, which holds the EU presidency, said in a statement.

The deal covers parts of an anti-money laundering package of measures that will create a new EU anti-money laundering authority.

Existing EU anti-money laundering rules will be expanded so that cryptoasset service providers must make checks on customers who carry out transactions worth 1,000 euros ($1,090.00) or more, and report suspicious activity. Cross-border cryptoasset firms must make additional