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AMLA Chief Updates EU Lawmakers on Progress, Priorities

Koos Couvée
Europe Editor

The EU's fledgling Anti-Money Laundering Authority will launch a "deep dive" next year into supervision in the cryptocurrency sector and review the effectiveness of national financial intelligence units, the agency's chair said Tuesday. AMLA, which became operational July 1 after setting up shop in Frankfurt, Germany, will monitor compliance with new, EU-wide AML rules, serve as a platform for sharing financial intelligence across the 27-nation bloc and directly supervise 40 systemically important financial institutions from 2028 onwards. Addressing a joint meeting of the European Parliament's Committee on Economic and Monetary Affairs and the Committee on Civil Liberties, Justice and Home Affairs on Tuesday,...

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