The European Union (EU) on Tuesday updated rules on the transfer of crypto assets to ensure they are traceable as part of the fight against crime.
The Council of the EU said in a statement that it has expanded the rules for transferring funds into crypto assets, guaranteeing financial transparency of transactions, ensuring that they will not be used for criminal purposes.
Under the new rules, crypto asset service providers are required to collect and make available certain information about the senders and recipients of crypto asset transfers they process, regardless of the amount of the transaction.
This measure, the Council believes, ensures the traceability of transfers of crypto assets in order to better be able to identify any suspicious transactions and block them.
Author: Portuguese
Source: CM Jornal
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.