The European Parliament has passed the first EU rules on tracing crypto asset transfers, allowing transactions incorporating crypto assets to be traced in the same way as traditional money transfers. The legislation, once in force, will also enable suspicious transactions to be blocked to tackle money laundering, terrorist financing and organised crime in the virtual assets sector. In a briefing note on 3 May, law firm Pinsent Masons said the ground-breaking rules, pending final approval by the Council of the EU, will extend the ‘travel rule', which is already used in traditional fin...
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