European lawmakers decided to tighten rules for stock exchanges

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Member States decided to impose stricter requirements for the exchange of cryptocurrencies in order to combat money laundering and the financing of terrorism. This is written by Reuters.

According to the new rules, European users will no longer be able to exchange cryptocurrencies through exchanges on conditions of anonymity, and their ability to use prepaid cards, which lawmakers claim to have been used to finance the attacks of militants, will be limited.

The agreement became part of a larger campaign to combat illegal financial flows and tax evasion in the EU.

“Today’s agreement will provide a greater degree of transparency regarding the fight against money laundering and the financing of terrorism,”  Vera Yurova,  the representative of the European Commission explained.

Exchanges and wallets that provide exchange and storage services for cryptocurrencies will be required to identify their customers. The new rules should be formally approved by the EU member states, and then adopted at the national level within 18 months.

Recall, earlier the European Central Bank refused to regulate the bitcoin market, and its chairman Mario Draghi said that this issue is not included in the list of authorities of the department.

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