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NFT trading platforms should be made subject to European Union anti-money laundering (AML) laws, members of the European Parliament have said in proposed amendments to the legislation published Monday.
Lawmakers from the Green Party and socialist representatives also appear to favor including self-managed crypto wallets and decentralized finance under a proposed regulation on money laundering.
Just last week, the bloc provisionally agreed on new laws designed to license crypto companies, known as the Markets in Crypto Assets Regulation (MiCA), and impose identity checks on transactions. But the European Commission was keen to leave detailed money-laundering procedures for a wider overhaul that also covers sectors such as banking.
Read more: EU Agrees on Landmark Crypto Authorization Law, MiCA
An amendment to those laundering laws proposed by the Green Party’s Ernest Urtasun and Kira Marie Peter-Hansen, alongside socialists Aurore Lalucq and Csaba Molnár, seeks to make NFT platforms – anyone who acts as an intermediary for importing, minting or trading the assets that represent proof of ownership of artworks or collectibles – “obliged entities” under EU money laundering law, according to the document dated June 22.
That would mean that the likes of OpenSea might have to assess the risk of illicit finance flowing through their systems and carry out identity checks on new customers and suspicious transactions, on par with what other entities like banks, real estate agents, art traders and other crypto providers do.
Read more: No AML Checks for Most Transfers to Unhosted Crypto Wallets, EU Policymakers Decide
Further amendments by Urtasun, Peter-Hansen, Lalucq and Dutch lawmaker Paul Tang are also seeking to use the law to impose laundering checks on decentralized autonomous organizations (DAOs) and “unhosted wallets” that aren’t managed by any regulated crypto provider. An attempt to do so via MiCA and a parallel set of rules known as the Transfer of Funds regulation was largely abandoned following opposition from EU member governments.
Another change proposed by by Gunnar Beck of the right-wing Alternative for Germany party, seeks to protect cryptocurrencies from the effects of the law, saying they “make it possible for people to diversify their portfolio and protect themselves from risks of [European Central Bank]-induced euro inflation."
The EU is looking to overhaul its money-laundering framework, including via setting up a new agency to control lenders, after a string of scandals in the conventional financial sector which involved the likes of Denmark’s Danske Bank and Malta’s Pilatus Bank.
"I was like, ‘There’s no way you’re gonna get away with that,'" said Joseph Quinn, who played Eddie Munson.
The Ministry of Defence is prepared to allow more athletes who are doing national service to disrupt and participate in international competitions, Defence Minister Ng Eng Hen said.
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FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: Dimensional Fund Advisors Ltd. (“Dimensional”), in its capacity as investment manager and on behalf its affiliates who are also investment managers. Dimensional and its affiliates expressly disclaim beneficial ownership of the shares described in this form 8.3(b) Owner or c
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FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: Dimensional Fund Advisors Ltd. (“Dimensional”), in its capacity as investment manager and on behalf its affiliates who are also investment managers. Dimensional and its affiliates expressly disclaim beneficial ownership of the shares described in this form 8.3(b) Owner or c
LONDON, July 05, 2022– Metal Tiger plc
Global Influenze Vaccines Market Global Influenze Vaccines Market Dublin, July 05, 2022 (GLOBE NEWSWIRE) — The "Influenza Vaccines: Global Markets" report has been added to ResearchAndMarkets.com's offering.The report explains critical trends in the influenza vaccine industry. It discusses the market determinants, which act as motivating or restraining factors, and provides insights to stakeholders and potential entrants. This report study includes only human vaccines; animal vaccines have not
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“The weather was beautiful, the concert was beautiful, but we live in America," Philadelphia Mayor Jim Kenney said after the shooting that wounded two police officers.
More than two dozen children have died of hunger in the past two months in a single hospital in Somalia. Dr. Yahye Abdi Garun has watched their emaciated parents stumble in from rural areas gripped by the driest drought in decades. Shortly after Russia invaded Ukraine, a donor who was preparing to give a half-million dollars to a Somali aid group told its executive director Hussein Kulmiye it was redirecting the money to help Ukrainians instead.
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STORY: Indian actors Neha Dhupia, Malaika Arora, Dino Morea, and American dancer and actor, Lauren Gottlieb were among the attendees who posed for photographs in their glamorous outfits on the red carpet.21-year-old Sini Shetty was crowned Miss India 2022, while Rubal Shekhawat and Shinata Chauhan were first and second runner-ups.
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Dublin, July 05, 2022 (GLOBE NEWSWIRE) — The "Quality Control Laboratory Compliance – cGMPs and GLPs Training" training has been added to ResearchAndMarkets.com's offering. This course will examine the fundamental requirements for all QC laboratories subject to FDA inspection, recent trends from FDA inspection reports, and enforcement actions. FDA inspection and oversight of quality control (QC) laboratories are essential elements of the agency's evaluation of the compliance status of regulated
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergPerson of Interest in July 4 Parade Shooting That Killed Six in Police CustodyBezos Slams Biden Over Call for Lowering of Gas PricesTesla Pauses Plants After Ending Shaky Quarter With a Production MilestoneUkraine Latest: Kyiv’s Immediate Funding Needs Hit $65 BillionBiden Close to Rollback of Chinese Tariffs to Fight InflationChina has largely escaped the crippl
SANTERAMO IN COLLE, Bari, Italy, July 05, 2022–Natuzzi S.p.A. (NYSE: NTZ) ("Natuzzi" or the "Company" and, together with its subsidiaries, the "Group") announced today that the Company’s shareholders have approved a new stock option plan for the Group’s personnel (the "Plan") and all related documents at an extraordinary shareholders’ meeting of the Company held on July 1, 2022, and have authorized the Company’s Board of Directors (the "Board") to carry out, in one or more tranches, the capital
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Singer P.P. Arnold has alleged she was raped by Ike Turner in the mid-1960s. Arnold, 75, performed as an Ikette with the Ike and Tina Turner Revenue, has opened up about the past in a new memoir called 'Soul Survivor' and in the book she claims Ike – who died in 2007 aged 76 – sexually assaulted her in a hotel room. She told The Telegraph: "You know what? When I decided to write my book my inspiration was Maya Angelou. It’s like, if I’m going to write my book I’m going to tell the truth." Arnold
Cody Simpson and Emma McKeon have made their relationship Instagram official. The 25-year-old singer – who ditched his music career to focus on competitive swimming – has finally confirmed his romance with the 28-year-old swimmer with a series of photos on the social media platform. Sharing snaps from a trip to Barcelona, Spain, he wrote: "A brief rendezvous in Barcelona with my love, Emma." Cody is in the city while he trains for the Commonwealth Games, and his post comes days after they were p
