The governments of many states are quite controversial about cryptocurrencies, so the control of cryptocurrencies in Europe is quite strict. This is primarily due to the unstable political and economic situation, as well as attempts to operate with cryptocurrency in illegal transactions with funds, financing terrorism.
Our company, Eternity Law International, closely monitors all the activities carried out by the European Parliament. Namely, the adoption of a directive on measures to tighten regulation of digital money. It gained powers after publication in the journal of the European Union.
In accordance with the new law, the use of cryptocurrency significantly reduces the degree of anonymity. A number of additional provisions are introduced for exchangers and cryptocurrency platforms.
The procedure for introducing new rules into national legislation is given a year and a half. With the information provided by our specialists, it follows that these entities must be registered with the authorities and systematically carry out control of legal documents, including customer inspection.
Also, according to the December EU legislative act, the sanctions against persons serving sentences for money laundering and other criminal financial activities will be reviewed and strengthened.
For news in this area, contact the expert lawyers of Eternity Law International.