EU anti-money laundering watchdog warns crypto firms of new regulations

CoinRank News: The European Anti-Money Laundering Authority (AMLA) has issued a warning to the cryptocurrency industry, requiring companies to comply with stricter regulations that are about to be implemented, including a ban on anonymous wallets and privacy coins. The new regulations require regulators to review the background of the actual owners and shareholders of crypto asset service providers to ensure that they are not involved in money laundering or terrorist financing activities. Crypto companies must also provide government agencies with direct, immediate and unfiltered access to account data. These measures will be fully implemented by July 2027. Previously, France and the Netherlands have launched anti-money laundering investigations into Binance involving terrorist financing and tax fraud. (Decrypt)