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EU Parliamentary Report on Crypto Oversight Suggests Stricter Measures than 5AMLD

▪ The European Parliamentary Research Service has suggested that its regulators should further enhance the Fifth Anti-Money Laundering Directive for more efficiency on crypto regulation.
 ▪ According to a study done by the researchers, the laws should be expanded to accommodate the various upcoming entities within this industry.
 ▪ It also highlighted the risk pegged to financial institutions participating in crypto markets while investors are not well vast with the digital assets.

The EU parliament has been quite progressive in defining crypto legally compared to the global pace. This body adopted the current 5AMLD crypto governing infrastructure back in 2018. At the time, they were moving to enforce stricter KYC/AML laws to curb illegal activities within the crypto markets.