EU Regulators: Crypto Exchanges Should Lose Licenses for Breaching Anti-Money Laundering Rules

  • Crypto exchanges should lose their licenses if found to have seriously breached anti-money laundering rules, European Union financial supervisors said.
  • The recommendation comes as lawmakers reach the closing stages of landmark legislation known as the Markets in Crypto Assets Regulation, or MiCA, introducing an authorization regime for virtual asset companies within the 27-nation bloc.
  • Major players such as Binance, the largest crypto exchange by volume traded, are now registered in EU countries like France and Italy, while the bloc is toughening its AML laws in the wake of a string of scandals affecting conventional lenders such as Danske Bank and Malta’s Pilatus.

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