AMLD5 fills 'regulatory void' for crypto firms, but state-by-state rules pose challenges
Quick Take
- Europe’s continent-wide regulation AMLD5 is slated to take effect January 10
- Crypto-to-fiat firms and custodial wallets will be required to implement baseline AML procedures, filling what was once a “regulatory void”
- Different nations are taking different approaches to ramp up AML efforts, which could be challenging for crypto firms operating in more than one jurisdiction.
The days are counting down to a crypto-regulated Europe, with some firms even closing their doors ahead of the January 10 deadline for anti-money laundering directive five (AMLD5) compliance. But, David Carlisle, head of community at blockchain analysis provider Elliptic, said the cost of compliance under the new directive is actually quite manageable. In places like […]
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