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. Virtual currency exchanges and wallet providers would come under the remit of the EU's Anti-Money Laundering Directive, requiring them to end the anonymity associated with such exchanges.