Representatives of the Council of the European Union and the European Parliament reached an agreement on Thursday on the location of the headquarters of the new European authority for anti-money laundering and combating the financing of terrorism, with the organization AMLA deciding to be based in Frankfurt. did. ,Germany.
AMLA, which oversees the crypto sector, will have more than 400 staff and is expected to start operations in the middle of next year, according to the company. press release A report released yesterday identifies the organization as “at the heart of reforming the EU's anti-money laundering framework”.
However, Mairead McGuinness, European Commissioner for Financial Stability, Financial Services and Capital Markets Union, said: Said At a press conference, officials said they were “ready to begin” work as early as Friday morning.
“We are reducing the risks associated with large amounts of funds by capping cash payments at EUR 10,000 across the EU,” McGuinness said. It also addresses the risks posed by anonymity.” . ”
The choice of AMLA's location follows last year's revision of the EU's Funds Transfer Regulations to enable the tracking of crypto transactions. The bloc recently passed high-profile policies. Crypto Asset Market (MiCA) Framework.
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