EU eyes new money laundering regulator and stricter crypto reporting requirements

The European Union is looking to launch a new agency designated with cracking down on money laundering at the regional level, with increased reporting requirements around crypto transactions listed among its principal objectives.

A July 8 report from Reuters citing leaked EU documents asserts the European Commission is proposing forming a new Anti-Money Laundering Authority (AMLA) that would act as the “centerpiece” of an oversight system also including national regulators.

SEC urged to crack down too