SCOOP: Europe AML rules could implicate DeFi, DAOs and NFTs via InbarPreiss
However, new amendments expand the regulation’s scope to cover decentralized autonomous organizations , decentralized finance protocols and their developers, and people trading NFTs.
The metaverse is also targeted as potential grounds for money laundering, and crypto-asset service providers may also be obliged to follow AML rules when dealing with transactions over €1000. The provisions are a result of merging suggested modifications from the Parliamentary groups into compromise amendments — which try to cover all the different views.First, they need to pass through a vote to enter into the European Parliament report on AML regulation. Then, the final report needs to pass a vote in plenary with all of the Parliament’s committees. After that, the report will represent the Parliament in the inter-institutional debates on AML.
The final report on the Parliament’s position is projected for December, and technical meetings on the AML report are scheduled until then.© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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