Tougher EU money laundering rules target crypto, luxury vehicle dealers

The European Union on Thursday agreed tougher anti-money laundering rules for cryptoassets and dealers in luxury cars and yachts, warning that oligarchs and criminals could no longer hide in the 27-country bloc.

Representatives of EU states and the European Parliament reached a deal on the new framework in negotiations that concluded in the early hours.

“It is a good day for EU citizens and businesses, but bad day for oligarchs and terrorists,” said Eero Heinaluoma, one of lawmakers who took part.