As the new EU crypto law comes into effect following the implementation of ‘Fifth Anti-Money Laundering Directive’ (AMLD5), the sector will receive a much-awaited push in the region. As per the new regulations, cryptocurrency businesses will be viewed as just any other business. Previously, crypto firms had to deal with separate regulations and oversight authorities. The upcoming AMLD5 directives are sure to give a boost to the local crypto industry as less compliance is always good for business. AMLD5 became law in 2018 and was implemented this year on January 10. Virtual assets are classified as ‘obliged entities.’ Pawel Kuskowski
