New EU Crypto Regulator

What is happening? The EU has created a new regulatory position, it will “create a sixth “Anti-Money Laundering Authority” (AMLD6) that will be specifically responsible for regulating the cryptocurrency industry.”

Why is this important? AMLD6 will have direct control over the crypto market. It is described by the EU parliament as ““EU-level supervision consisting of a hub and spoke model – i.e. supervisor at the EU level competent for direct supervision of certain financial institutions (FIs), indirect supervision/coordination of the other FIs, and a coordination role for supervising the non-financial sector as a first step.”

How will this be important? The US, states, other countries, are all trying to figure out crypto regulation. Here’s a roadmap, take what you want, leave behind what you don’t like.

EU Parliament | AMLD6

The BLOCK | The EU is on the verge of creating a new AML regulator that will oversee crypto