Topic: AMLD5 Won't Save Crypto Exchanges From Bank Rejection (Read 121 times)

blacky90

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EU regulation is catching up with crypto. Once an anarchic domain where only code was law, cryptocurrency's rise to international notoriety has meant that the world's legislators have been busy over the past few years creating a framework that just might tame crypto.

The EU's 5th Anti-Money Laundering Directive (AMLD5) is one example of this. Passed in July 2018 and obligatory for all member states from January 10, 2020, the AMLD5 updated the EU's anti-money laundering regulatory regime: for the first time it stipulated that cryptocurrency exchanges had to follow the same rules as banks and everyone else.

https://cryptonews.com/exclusives/amld5-won-t-save-crypto-exchanges-from-bank-rejection-5972.htm

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