The final vote on the EU anti-money laundering legislation has been passed and is set to take effect three years later

ChainCatcher news, according to The Block, the European Parliament voted on Wednesday to pass a series of laws, some of which aim to enhance "due diligence measures and checks on customer identity," including so-called crypto asset managers. They will also be required to report suspicious activities to the authorities. The new laws will affect crypto asset service providers (CASPs), such as centralized crypto trading platforms, as well as various other institutions including gambling services.

Patrick Hansen, Circle's Director of EU Strategy and Policy, commented on the event, stating that the voting results were as expected. "The package of legislation will be formally adopted by the EU Council and will come into effect three years later."