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The European Union introduces verification of cryptocurrency holders

The European Parliament approved a package of new measures to combat money-laundering.

21.Apr.18 4:46 AM
By Tatiana Kisarova


The European Union introduces verification of cryptocurrency holders

The information portal reports that the European Parliament has approved new measures to combat money laundering. This will also affect the regulation of the crypto-currency market. Provision of financial markets follows the path of tightening rules for their participants.

It is reported that the new rules require exchanges and banks to use the total control of their customers to prevent the anonymity of digital currencies. It will consist of mandatory verification of all participants in crypto-currency transactions, beginning with traders, ending with suppliers of digital wallets. Moreover, registration of crypto-exchange platforms and companies engaged in the storage of crypto-currency will be introduced. These prescriptions will come into force three days after they are published in the official publication of the European Union. Member States of the European Union will have to make these changes to their legislation within 18 months of the commencement of the updated directive.

The other day, we wrote that a large p2p-platform for trading cryptocurrencies LocalBitcoins also introduces mandatory verification for those bidders who conduct large crypto-currency transactions.

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