Virtual Currencies: No longer a Game without Frontiers – Lexology

On 19 April 2018, the European Parliament adopted the proposal for the fifth Anti-money Laundering (AML) Directive, which will make a number of changes to the fourth AML Directive, implemented in Belgium by the Anti-money Laundering and Terrorist Financing Act and in effect since 16 October 2017.

The revised directive forms part of the European Commission’s action plan, launched in February 2016 following a number of horrendous terrorist attacks in the European Union and the financial affairs brought to light by the Panama Papers, intended to ramp up the fight against the financing of terrorism. The plan contains a series of measures to combat terrorist financing and to ensure greater transparency in financial transactions.

The fourth AML Directive applies to a wide range of sectors deemed to be at risk for money laundering or terrorist financing. By means of this directive, the European legislature wishes to extend the scope of application of

... read more at: https://www.lexology.com/library/detail.aspx?g=83f4f788-e616-403f-80a6-daa15881f5db