Source: EUCIThe regulation is part of a broader AML framework that includes bank and payment accounts, passbooks and safe-deposit boxes, “crypto-asset accounts allowing anonymisation of transactions,” and “accounts using anonymity-enhancing coins.”Related: Eric Trump: USD1 will be used for $2B MGX investment in Binance“The regulations (the AMLR, AMLD and AMLAR) are final, and what remains is the ‘fine print’ — aka the interpretation of some of the requirements through the so-called implementing and delegated acts,” according to Vyara Savova, senior policy lead at the EUCI.
She added that much of the implementation will come through so-called implementing and delegated acts, which are mostly handled by the European Banking Authority:“This means that the EUCI is still actively working on these level two acts by providing feedback to the public consultations, as some of the implementation details are yet to be finalized.”“However, the broader framework is final, so centralized crypto projects (CASPs under MiCA) need to keep it in mind when determining their internal processes and policies,” Savova said.
Under the new Anti-Money Laundering Regulation (AMLR), credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies.“Article 79 of the AMLR establishes strict prohibitions on anonymous accounts [...].
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Author / Journalist: Cointelegraph by Zoltan Vardai
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