Under the terms of the virtual currency rules adopted today, member states need to implement the changes and other counter-terrorism financing actions by the end of the year. The EU has revised existing anti-money laundering protection to make it harder for terrorists and money-launderers to use virtual currencies and other financial vehicles such as prepaid cards. In a statement on Wednesday, the European Commission said that “virtual currencies” were not covered by current rules because they are “not subject to any specific legislative framework”.
The EU has revised existing anti-money laundering protection to make it harder for terrorists and money-launderers to use virtual currencies and other financial vehicles such as prepaid cards. In a statement on Wednesday, the European Commission said that “virtual currencies” were not covered by current rules because they are “not subject to any specific legislative framework”.