EXCLUSIVE: EU keeps focus on NFTs in latest anti-money laundering bill draft By InbarPreiss
New amendments to the European Union’s anti-money laundering bill cement NFT platforms as obliged entities.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.
This diverges from the scope of the European Union's standard-setting crypto rulebook, the Markets in Crypto-Assets regulation, which explicitly left them out. The MiCA framework, expected to pass a final vote next month, lays down the foundations of crypto regulation across the 27-nation bloc. While lawmakers intentionally exempted NFT platforms from its coverage, operators appear likely to be caught up in obligations under the proposed AML rules.
“NFT platforms are not covered in the current definition of crypto-assets service providers under the MiCA Regulation to the extent they do not provide services in crypto-assets that are fungible and non-unique,” reads a draft of the AML proposal obtained by The Block and confirmed by multiple sources familiar with the negotiation.
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