#EUPrivacyCoinBan

The new regulatory framework, which complements the Markets in Crypto-Assets Regulation (MiCA), increases surveillance on crypto businesses. The regulatory framework mandates such firms to do mandatory customer due diligence on all transactions above €1,000 ($1,100). This regulation makes it easier to track transactions and prevent money laundering in crypto space.

The EU seeks to strengthen its surveillance on crypto service providers. AMLA will initially supervise 40 crypto firms, with at least one company from each member state. The selected entities must have more than 20,000 customers from the host country or exceed €50 million in transaction volume.