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NFT TRADING PLATFORM SHOULD FOLLOW EUROPEAN AML LAWS: EUROPEAN PARLIAMENT

NFT TRADING PLATFORM SHOULD FOLLOW EUROPEAN AML LAWS: EUROPEAN PARLIAMENT 

Legislators from the Green Party and socialist representatives also appear to prefer to incorporate regulated crypto funds and currencies under the proposed money laundering regulation.


Last week, the bloc temporarily agreed on new rules designed to licens crypto companies, known as Crypto Assets Regulation (MiCA), and enforce identity checks on sales. However, the European Commission was willing to abandon detailed money laundering procedures for more comprehensive and inclusive transactions such as banking.



The amendments to the fraud laws proposed by Ernest Urtasun of the Green Party and Kira Marie Peter-Hansen, as well as Socialists Aurore Lalucq and Csaba Molnár, are aimed at creating NFT platforms - anyone acting as a facilitator for importing, creating or trading private goods. proof of ownership of art or collective works - "compulsory corporations" under EU money laundering law, in a document dated June 22.


That could mean that OpenSea interests may need to assess the risk of illegal money flowing into their systems and conduct proprietary checks on new customers and suspicious transactions, in line with what other organizations such as banks, real estate agents, real estate agents and so on. crypto providers do.




Other amendments made by Urtasun, Peter-Hansen, Lalucq and Dutch lawyer Paul Tang sought to enforce the law to enforce foreclosure checks in the private sector (DAOs) and "unmanaged" funds that could be controlled by any regulated crypto provider. Attempts to do so through the MiCA and a set of similar laws known as the Transfer Act are drastically reduced following opposition from member states of the EU.


Another change proposed by Gunnar Beck of the right-wing Alternative for Germany group, aims to protect cryptocurrencies from the effects of the law, saying it "makes it possible for people to split their portfolio and protect themselves from [European Central Bank] risks - inflation. euro. "


The EU is looking to restructure its money laundering framework, which includes establishing a new lending regulatory agency, following a series of scandals in the common financial sector that included the popularity of Danske Bank of Denmark and Malta's Pilatus Bank.

Source: yahoo



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