European UnionNew amendments to the (EU) anti-money laundering law, NFTdefines its platforms as liable institutions.
European Union continues to advance in cryptocurrency regulation. EU changes the law to prevent black money NFTfocuses on platforms.
EU Holds NFT Platforms Accountable for Anti-Money Laundering
European Parliamentpolicy makers in NFTIt is discussing changes to the text of an EU money laundering bill to emphasize that platforms or other companies providing services related to NFTs are covered by the regulation.
The MiCA regulation, which is expected to pass a final vote next month, lays the foundations for crypto regulation in the 27-nation European Union. Lawmakers exempt NFT platforms from coverage. The planned change is planned to add NFTs to liabilities under AML (money laundering) rules.
A draft of the proposed change to AML reads about NFTs:
“NFT platforms are not covered by the current definition of crypto-asset service providers under the MiCA Regulations, to the extent that they do not provide services on cryptoassets that are not duplicate and unique.”
