The vote on the adoption of the draft report, which was approved with 93 votes in favour to 14 against and 14 abstentions, took place during yesterday’s ECON/LIBE joint meeting during which the draft report on the proposal for an EU single rulebook of AML/CTF was presented.
Under the new rules agreed by MEPs, crypto assets would now need to be traced and identified, including bitcoins and electronic money tokens. Information should in future also include the source of the assets and their beneficiary. Transactions from so-called unhosted wallets should also be covered by the legislation.
The new rules on crypto are one part of the four proposals adopted by the European Commission in July last year as the new Anti-Money Laundering Package. The adopted text on crypto assets is the draft mandate for MEPS to start negotiations around the final shape of the legislation with EU national governments, while the EP as a whole will vote on it during the plenary session in April.
For more information on the Anti-Money Laundering Package please click
here.