{"id":10984,"date":"2024-02-23T19:45:45","date_gmt":"2024-02-23T17:45:45","guid":{"rendered":"https:\/\/forklog.com\/en\/eu-sets-timeline-for-launch-of-anti-money-laundering-agency\/"},"modified":"2024-02-23T19:45:45","modified_gmt":"2024-02-23T17:45:45","slug":"eu-sets-timeline-for-launch-of-anti-money-laundering-agency","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/eu-sets-timeline-for-launch-of-anti-money-laundering-agency\/","title":{"rendered":"EU Sets Timeline for Launch of Anti-Money Laundering Agency"},"content":{"rendered":"<p>By mid-2025, the European Union will establish a new regulatory body to combat money laundering \u2014 <span data-descr=\"Anti-money Laundering Authority\" class=\"old_tooltip\">AMLA<\/span>. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?Frankfurt ?? has been selected as host city for the EU anti-money laundering authority.<\/p>\n<p>The Council and <a href=\"https:\/\/twitter.com\/Europarl_EN?ref_src=twsrc%5Etfw\">@Europarl_EN<\/a> voted together to choose which of the nine candidates would become the headquarters.<\/p>\n<p>Find out more about the new agency\u2019s tasks \u2b07\ufe0f<\/p>\n<p>\u2014 EU Council (@EUCouncil) <a href=\"https:\/\/twitter.com\/EUCouncil\/status\/1760959811695374507?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The headquarters will be located in Frankfurt, with a team of over 400 employees.<\/p>\n<p>AMLA is expected to oversee &#8220;high-risk and cross-border financial organizations,&#8221; including cryptocurrency companies. The supervisory body will coordinate its activities with financial intelligence units and regulators from other EU countries.<\/p>\n<p>The executive board of the Authority will include a chairperson and five independent members.<\/p>\n<p>Plans to create such an agency in the EU were first revealed in July 2021. The European Commission&#8217;s project noted that money laundering, terrorism financing, and organized crime remain significant issues.<\/p>\n<p>In May 2023, the Council of the European Union unanimously approved a bill to regulate the crypto-assets market. The document requires companies to obtain a license to operate in the EC, and stablecoin issuers to have reserve backing.<\/p>\n<p>In January 2024, EU authorities <a href=\"https:\/\/u1f987.com\/en\/news\/eu-to-mandate-crypto-firms-to-verify-clients-for-transactions-over-e1000\">provisionally agreed<\/a> on a package of measures to combat money laundering and terrorism financing, which will tighten existing rules for the crypto industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By mid-2025, the European Union will establish a new regulatory body to combat money laundering \u2014 AMLA. ?Frankfurt ?? has been selected as host city for the EU anti-money laundering authority. The Council and @Europarl_EN voted together to choose which of the nine candidates would become the headquarters. Find out more about the new agency\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[733,36],"class_list":["post-10984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-europe","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10984"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10983"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}