The EU Fifth Anti-Money Laundering Directive came into force yesterday, July 9, Cointelegraph auf Deutsch reports July 10. Measures within the directive will set a new legal framework for European financial watchdogs to regulate digital currencies in order to protect against money laundering and terrorist financing.
As the EU Commission wrote in an accompanying press release, the new rules enact stricter transparency requirements directed at the use of “anonymous payments through prepaid cards” and “virtual currency exchange platforms” for the purposes of money laundering or terrorist financing. The EU Commission writes: