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    Anu T S in Crypto News

    23 Feb 04:30 PM


    EU crypto AML authority to establish HQ in Frankfurt

    The Anti-Money Laundering Authority will start its work by mid-2025.
    The European Union’s new Anti-Money Laundering Authority (AMLA) will be headquartered in Frankfurt, the financial capital of Germany. The oversight body will start its work by mid-2025.

    The AMLA will have the authority to supervise “high-risk and cross-border financial entities” — including crypto firms — if they operate across borders or are considered high-risk. It will coordinate its oversight activities with financial intelligence units and regulators in other EU countries.

    In a Feb. 22 press release from the Council of the EU and the European Council, Frankfurt was revealed as the city of choice for the new agency’s headquarters. The European Central Bank is also located in the city. The shortlist of alternative locations included Brussels, Dublin, Madrid, Paris, Rome, Riga, Vilnius and Vienna.

    Source - Coin Telegraph