Vote Sees Europe Move toward AMLD-D for Digital Currency Exchanges
In a majority vote, the European Parliament’s Committee on Economic and Monetary Affairs has voted to adopt its virtual currencies and blockchain report. The vote comes during a time when the Commission is looking to bring digital currency exchanges under the purview of its Anti-Money Laundering Directive (AMLD). The European Digital Currency & Blockchain Technology Forum (EDCAB), a Brussels-based public policy platform for digital currencies and blockchain technology has revealed that the influential Euro Parliament Committee on Economic and Monetary Affairs has voted to adopt its....
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In a sweeping effort to present an action plan to combat and curb terrorism financing, the European Commission is looking ascertain more information from virtual currency service providers in Europe. The services under the scanner include exchanges and wallets. The European Commission – the executive arm of the European Union – is looking to make several amendments to the Anti Money Laundering Directive (AMLD) in a new proposal through an action plan. The amendments, if enforced, are likely to be mandated by the second quarter of 2016. If the changes come into effect, exchanges and wallet....
In a proposal today, the European Commission – the executive arm of the European Union – sought stricter rules on the use of virtual currencies like bitcoin. Citing reasons of terrorism and money laundering, the European Commission has proposed stricter rules for the use of virtual currencies, an official press release revealed today. The changes will see digital currency exchanges and wallet providers fall under the purview of the Anti-Money Laundering Directive (AMLD). Such a move will seek to bring an end to the anonymity associated with digital currency transactions. The proposed rules....
The European Parliament’s Committee on Economic and Monetary Affairs voted almost unanimously to adopt its report on virtual currencies today. The 54-to-1 decision was one of the last hurdles for a measure that could lead to the creation of cryptocurrency task force before it is put before vote by the entire European Parliament. Speaking with CoinDesk this afternoon, founder of the European Digital Currency and Blockchain Technology Forum (EDCAB) described the vote as part of a larger movement to regulate virtual currency exchange platforms under existing anti-money laundering (AML)....
The EU has recently been very active in attempting to regulate digital currencies, including bitcoin. Last week, Bitcoin.com reported on the European Parliament’s proposal to amend the EU’s fourth Anti-Money Laundering Directive (AMLD), tackling digital currency anonymity. Now, a different proposal submitted by Parliament members is targeting specific....
A newly drafted proposal to amend the existing directive of preventing money laundering and terrorism financing is seeking to introduce significant regulatory authority over the usage of digital currencies like bitcoin. Members of the European Parliament (MEPs) are deliberating to extend the scope of the Anti-Money Laundering Directive (AMLD) to include virtual currencies, a move that could end the anonymity of cryptocurrency adopters and users. The existing AMLD, published in May 2015, does not include any mention or coverage of virtual currencies. CCN reported on a separate proposal put....