European Union makes it difficult for criminals to use cryptos for money laundering

The European Union has reached a provisional agreement on transparency of crypto asset transfers, making it more difficult for criminals to use crypto currencies for money laundering.
Negotiators from the Council presidency and the European Parliament reached the pact on the proposal updating the rules on information accompanying the transfers of funds, by extending the scope of those rules to transfers of crypto assets.
The new agreement will enable the EU to deal with the risks of money laundering and terrorist financing linked to these new technologies, while reconciling competitiveness, consumer and investor protection, and the protection of the financial integrity of the internal market, the European Council said in a statement.