The European Parliament has approved a package of anti-money laundering laws targeting financial services and entities, including cryptocurrencies

ChainCatcher news, the European Parliament has voted to pass a new set of laws tightening anti-money laundering and counter-terrorism financing measures across the EU. These laws target large cash payments, cryptocurrency companies, and football clubs, among others. In addition to creating a single rulebook for the 27 EU countries, the package approved on Thursday also establishes an anti-money laundering agency based in Frankfurt, responsible for overseeing the implementation of the relevant frameworks, particularly those that the EU deems most important.
The new laws include strengthened due diligence measures and checks on customer identities, after which so-called obligated entities (such as banks, asset and cryptocurrency managers, or real estate and virtual real estate brokers) must report suspicious activities to financial intelligence units and other competent authorities.