The EU wants to extend AML standards to NFT marketplaces

Europaralmaent considers it necessary to introduce anti-money laundering laws to decentralized projects.
The EU wants to extend AML standards to NFT marketplaces

Members of the European Parliament have stated that the area of decentralized finance, including NFT marketplaces, should fall under the influence of EU anti-money laundering laws. A number of legislative amendments were also proposed.

The amendments were introduced by members of the European Green Party and Socialists. They said that DeFi projects, regardless of their identification as DAOs or DeFi, must undergo AML/CFT treatments. Information material from com​pany CryptoDeFix.

“Developers, owners or operators should assess risks of money laundering and terrorist assessments before launching or using a software or platform and take appropriate measures in order to mitigate money laundering and terrorist financing risks in an ongoing and forward-looking manner,” the amendments said.

Also affected will be NFT-platforms that act as intermediaries for trade assets, which are proof of ownership of works of art or collectibles.

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