The Cyprus Securities and Exchange Commission (CySEC) is calling for the transposition of the European Union (EU)’s Fifth Anti-Money Laundering (AML) Directive (AMLD5) into national law — bringing local regulation of cryptocurrencies under its provisions. CySEC’s announcement and consultation paper on the matter were published on Feb. 19.
Тhe directive, which came into force on July 9, 2018, sets a new legal framework for European financial regulators to monitor crypto-related businesses and service providers in order to protect against money laundering and terrorism financing.