Too Long; Didn't Read
EU's Fifth Money Laundering Directive (5MLD) came into effect on Jan 10 in parallel with the European Securities and Markets Authority's own plans for developing a legal framework for digital assets in 2020. European Commission launched a public inquiry into the future markets citing the current lack of any comprehensive classification of digital assets. The Commission seeks stakeholder input on the risk-benefit assessment; the market efficiency of digitised securities is glaringly obvious, but so are the risks of releasing them into the wild without proper oversight. Most of the EU-based crypto-exchanges are still lacking in the KYC department, unlike US-based exchanges that are to deploying the AML/KYC protocols to comply with the 5MLD and Direct Direct Direct