Euro Central Bank backs money laundering rules

Plans to bring virtual currency exchanges and digital wallet providers within the scope of EU anti-money laundering (AML) legislation have been backed by the European Central Bank (ECB). The ECB said it “strongly supports” the proposals to extend the Fourth Anti-Money Laundering Directive (AMLD4), noting that “terrorists and other criminal groups are currently able to transfer money within virtual currency networks by concealing the transfers or by benefitting from a certain degree of anonymity on such exchange platforms”. Read more: