Crypto in the EU Faces a Privacy Purge Under New AML Rules

Key Points

1. The Anti-Money Laundering Authority (AMLA) will enforce uniform AML rules across all EU states to close oversight gaps.

2. Crypto service providers in the EU must disclose transaction details and are prohibited from offering anonymous accounts.

3. The new regulations are part of the EU's updated AML laws and align with the Markets in Crypto-Assets (MiCA) rules.

4. AMLA's head, Bruna Szego, emphasized the importance of transparency in crypto transactions to prevent illicit activities.