#Mythbusting and Explanation of the Fifth Anti-Money Laundering Directive or 5AMLD
Too Long; Didn't Read Starting from January 10, 2020, the Fifth Anti Money Laundering Directive (5AMLD) takes effect. The Directive contains requirements for the mandatory verification for all cryptocurrency platforms clients following the KYC and AML standards. ExMO Cryptocurrency Platform stores user’s personal information on the encrypted servers, and no company employee has access to the original documents, except for a certified AML officer. In 2019, all anonymous cryptocurrencies were officially banned in Japan. The need to implement such a ban is being discussed in other countries like France and Italy.