Ernest Urtasun Eu regulation Europe European Union AML Ernest Urtasun Eu

EU officials reach agreement on AML authority for supervising crypto firms

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cointelegraph.com

The European Council has reached an agreement to form an anti-money laundering body that will have the authority to supervise certain crypto asset service providers, or CASPs.In a Wednesday announcement, the council said it had agreed on a partial position of a proposal to launch a dedicated Anti-Money Laundering Authority, or AMLA.

According to the regulatory body, the AML body will have the authority to supervise “high-risk and cross-border financial entities” including crypto firms — “if they are considered risky.”European Parliament member Ondřej Kovařík said EU officials had also reached a “provisional political agreement” on the government body’s Transfer of Funds Regulation.

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