What measures does the Council take to prevent money laundering in the crypto asset industry in the EU?

3 answers

• AndreiAug 02, 2024 · 2 years ago
  The Council of the European Union has implemented a range of measures to prevent money laundering in the crypto asset industry. These measures include the implementation of the Fifth Anti-Money Laundering Directive (5AMLD), which requires crypto asset service providers to register with the relevant authorities and comply with strict know-your-customer (KYC) and anti-money laundering (AML) procedures. Additionally, the Council works closely with national financial intelligence units and law enforcement agencies to share information and coordinate efforts to combat money laundering in the crypto asset industry.
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• Azim0ntJul 31, 2020 · 6 years ago
  Preventing money laundering in the crypto asset industry is a top priority for the Council of the European Union. To achieve this, they have established a comprehensive regulatory framework that includes the licensing and supervision of crypto asset service providers. These providers are required to implement robust AML and KYC procedures, conduct customer due diligence, and report any suspicious transactions to the relevant authorities. The Council also collaborates with international organizations and other jurisdictions to ensure a coordinated approach to combating money laundering in the crypto asset industry.
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• Olivia JulianMay 08, 2022 · 4 years ago
  As a leading digital asset exchange, BYDFi takes the prevention of money laundering seriously. We adhere to the regulations set forth by the Council of the European Union and implement stringent AML and KYC procedures. Our platform utilizes advanced technology and data analysis to detect and prevent suspicious activities. We work closely with regulatory authorities and law enforcement agencies to ensure compliance and contribute to the overall efforts to combat money laundering in the crypto asset industry.
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