The European Parliament has adopted a Resolution on the Commission’s Action Plan on Anti-Money Laundering / Combating the Financing of Terrorism (AML/CFT) published on 7 May.

The European Parliament welcomes both the Commission’s Action Plan and its intention to deliver a single rule book in the field of AML/CFT, including by turning the relevant parts of the AML Directive (AMLD) into a Regulation to ensure more harmonization across the Member States.

Inter alia, the Resolution calls on the Commission to tackle the risks of crypto-assets by enforcing the ‘know your customer’ (KYC) principle in a broad way while respecting the principles of necessity and proportionality.

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