The European Parliament has passed new regulations requiring crypto firms to implement due diligence to combat money laundering.
These rules apply to crypto-asset service providers (CASPs), including exchanges and gambling services, and mandate reporting of suspicious activities.
Patrick Hansen from Circle clarified that the laws won’t ban anonymous wallets or self-custodial payments.
The regulations will apply to CASPs under the existing MiCA framework, with full enforcement expected by year-end. Hansen viewed the finalized regulations positively, highlighting a more flexible, risk-based approach thanks to industry input.
EU Financial Commissioner Mairead McGuinness emphasized the EU’s commitment to tackling illegal activities, and tightening anti-money laundering measures across its 27 member states.
From 2026, a new EU agency will supervise anti-money laundering efforts, subject to EU finance ministers’ approval. The regulations focus on non-custodial wallets, compelling service providers to verify users and monitor transactions more stringently.
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