The European Union has finalized rules for transfers of cryptocurrency assets such as Bitcoin and electronic money tokens to ensure digital currencies can be traced like traditional cash.
The legislation is part of the new EU anti-money laundering package and will be aligned with the Markets in Crypto-assets rules (MiCA), which call for information on the source of the asset and its beneficiary travels with the transaction. Crypto-assets service providers (CASPs) will be obliged to provide the information to authorities in an investigation related to money laundering and terrorist financing.
The rules mandate that providers, prior to making crypto-assets available to beneficiaries, …
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