NFT platforms need to be included in an overhaul of EU anti-money laundering laws, some lawmakers believe. jackschickler reports.
– anyone who acts as an intermediary for importing, minting or trading the assets that represent proof of ownership of artworks or collectibles – “obliged entities” under EU money laundering law, according to the document dated June 22.
That would mean that the likes of OpenSea might have to assess the risk of illicit finance flowing through their systems and carry out identity checks on new customers and suspicious transactions, on par with what other entities like banks, real estate agents, art traders and other crypto providers do.
Another change proposed by by Gunnar Beck of the right-wing Alternative for Germany party, seeks to protect cryptocurrencies from the effects of the law, saying they “make it possible for people to diversify their portfolio and protect themselves from risks of [European Central Bank]-induced euro inflation."
The EU is looking to overhaul its money-laundering framework, including via setting up a new agency to control lenders, after a in the conventional financial sector which involved the likes of Denmark’s Danske Bank and Malta’s Pilatus Bank.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance NFT Launches “FC Porto: The 30th Champions” NFT Mystery Box Collection and NFT PowerStation with 2,000 PORTO Fan Tokens to Be Shared! | Binance SupportFellow Binancians, Binance NFT Marketplace is launching the “FC Porto: The 30th Champions” NFT Mystery Box Collection at 2022-07-04 10:00 (UTC) . This is the third NFT collection presented by ...
Read more »
Madonna Releases Extremely Explicit NFT CollectionMadonna relased an NSFW NFT collection called Mother of Creativity on SuperRare. Proceeds go to charity and the clips show her birthing trees and bugs.
Read more »
NFT June Sales Down to 12-Month Lows Amid Ongoing Bear Market (Report) After Braving Bear Market, NFT June Sales Down to A 12-Month Low (Report)Recording a whopping $42 billion in sales, NFT trade has been more robust in 2022 so far, compared to the blockbuster 2021
Read more »
British Army regains control of YouTube and Twitter accounts following NFT hackThe Army regained control of the account by Sunday evening, putting an end to the fake NFT promotions that were on its page.
Read more »
NFT Sales Stave off Crypto Market Downturn This Week With a Slight Uptick in Volume – Markets and Prices Bitcoin NewsNFT sales have managed to stay consistent this week while the crypto economy saw more losses over the last seven days.
Read more »
Breakingviews - Taxing EU bank windfalls is job for governmentsIt’s been a while since the European Central Bank worried about lenders making too much money. Yet the Frankfurt-based body is examining how to prevent banks from pocketing a windfall when it begins hiking interest rates later this month, the Financial Times reported on Sunday, citing three people familiar with the plans.
Read more »