EU supports cryptocurrency anti-money laundering laws

European Union negotiators reached a provisional agreement on anti-money laundering rules for cryptocurrencies that would spur crypto firms to check their customers’ identities in the latest regulatory tightening of the freewheeling sector.
The rules, opposed by major US exchange Coinbase Global Inc., would also require crypto firms to report suspicious transactions to regulators to help crack down on dirty money, the European Parliament and Council said in a statement.
Coinbase did not immediately respond to a request for comment.
Regulation of the $2.1 trillion crypto sector remains patchy across the world.