What is AMLD5 and How it Affects the Crypto Space By Cryptovest

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What is AMLD5 and How it Affects the Crypto Space

Cryptocurrency Dec 17, 2019 09:21AM ET

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What is AMLD5 and How it Affects the Crypto Space

One of the first events for 2020 will be the enforcement of the AMLD5 set of rules. From January 10, reporting customer data will be even more detailed.

The requirements have already led to the closing of crypto-based payment startups, as even firms with crypto-only payments are affected. The chief effect is that small-scale companies would be overwhelmed by the reporting requirements.

The closing of European services and exchanges may affect some of the small, thinly traded coins.

https://twitter.com/PeterRelevant/status/1204808423549939713

The chief hindrance of AMLD5 will be the banning of anonymous mediated...

This article appeared first on Cryptovest

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