2023-7-20 13:19 |
French officials boast of crypto-ready laws that contrast with a stuttering enforcement campaign from the U.S. SEC – and are looking to the next generation of Web 3 gaming rules.
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Crypto Asset Service Providers (CASP) in Europe would have to implement stringent Know Your Customer (KYC) procedures to combat money laundering following the European Parliament greenlight of new Anti-Money Laundering Regulations (AMLR), according to an April 24 statement.
Three consultations on relevant rules will run until Feb. 8, 2024, the European Banking Authority has said.
The crypto trading platform for EU will start in "coming weeks."
Controls on staff bonuses at crypto exchanges and wallet providers are also planned as the bloc prepares for its landmark crypto law, MiCA.
ESMA says MiCA will take time to be fully implemented. Crypto investors, therefore, remain at risk in the meantime. Bitcoin is trading well under the $29,000 level on Tuesday. All eyes are on Bitcoin after ESMA – the European Securities & Markets Authority cautioned crypto investors on Tuesday.
ESMA has released a consultation paper on MiCA implementation requirements. Industry players are requested to provide feedback by September 20. The EU regulator will present the final proposals to the European Parliament by June 30, 2024.