The fifth eu anti-money laundering directive has come into force and cryptographic companies will be required to carry out KYC procedures

The fifth anti-money laundering directive (5AMLD) came into force on January 10. Cryptocurrency projects in eu countries must implement corresponding KYC procedures to achieve anti-money laundering (AML) and combat terrorist financing (CFT). Deribit, a cryptocurrency derivatives trading platform based in the Netherlands, said it would leave the country and move to its Panamanian subsidiary. Other projects have embraced the decree, including Bitpanda, a venerable cryptocurrency investment platform based in Europe, which said in an email to users that it was fully compliant with AMLD5.

Original address:https://cointelegraph.com/news/what-the-5th-anti-money-laundering-directive-means-for-crypto-businesses

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