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News 18th of July 2022 By Sander De Landtsheer and Michaël Lagrou

Cryptocurrencies: about the automatic exchange of information between countries and fraud potential

Cryptocurrencies: about the automatic exchange of information between countries and fraud potential

Automatic exchange of information

Anti-money laundering and fraud

Note: these regulations apply only to platforms that exchange fiat currencies for cryptocurrencies and vice versa, not to platforms that trade cryptocurrencies among themselves.
  • +One proposal concerned a Regulation for the establishment of a new European AML/CFT Authority. This to promote internal collaboration.
  • +Another proposal was for a sixth Anti-Money Laundering Directive with rules for national supervisors and financial intelligence units in the various Member States. 
  • +The European Commission also wishes to expand traceability requirements to include crypto-assets.
  • +Furthermore, they want to create an AML/CFT Regulation for the harmonisation of rules within the internal European market.

Are we on our way to a more regulated and transparent crypto market?

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Disclaimer
We base our advice on current legislation, interpretations and legal doctrine. This does not prevent the administration from being able to challenge it or to change existing interpretations.
Sander De Landtsheer
Sander De Landtsheer
Michaël Lagrou
Michaël Lagrou