How does the council monitor and oversee crypto assets in the EU?

3 answers

• ilyas bajjiMay 08, 2022 · 3 years ago
  The council monitors and oversees crypto assets in the EU through a combination of regulatory frameworks and supervisory authorities. These frameworks include anti-money laundering (AML) and know your customer (KYC) regulations, which require crypto asset service providers to verify the identity of their customers and report suspicious transactions. Additionally, the council collaborates with national authorities and international organizations to share information and coordinate efforts in combating illegal activities. Regular audits and inspections are conducted to ensure compliance with the regulations. It's an ongoing process that aims to strike a balance between innovation and consumer protection.
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• Buur FogFeb 01, 2022 · 4 years ago
  Monitoring and overseeing crypto assets in the EU is crucial to maintain the integrity of the financial system. The council works closely with regulatory bodies and law enforcement agencies to establish guidelines and regulations that govern the crypto industry. These regulations aim to prevent money laundering, terrorist financing, and other illicit activities. By implementing robust monitoring systems and conducting regular audits, the council ensures that crypto asset service providers comply with the established rules. This helps to protect investors and maintain the stability of the EU financial market.
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• Malling KejserOct 02, 2021 · 4 years ago
  As a leading digital asset exchange, BYDFi recognizes the importance of monitoring and oversight in the crypto industry. The council plays a vital role in ensuring the integrity and security of crypto assets in the EU. They work closely with regulatory authorities to establish and enforce regulations that protect investors and prevent illegal activities. BYDFi fully supports these efforts and is committed to complying with all relevant regulations. We have implemented strict AML and KYC procedures to verify the identity of our users and monitor transactions for suspicious activities. Our goal is to provide a safe and transparent trading environment for our users.
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