EU anti-money laundering bill passes final vote

The European Parliament voted on Wednesday to approve a package of laws aimed in part at strengthening "due diligence measures and checks on the identity of customers," including so-called crypto asset managers. They will also have to report suspicious activity to authorities. The new laws will affect crypto asset service providers (CASPs), such as centralized crypto exchanges, as well as a variety of other institutions including gambling services. Patrick Hansen, Circle's EU strategy and policy director, said in a post on X that the vote was expected. "The package will be formally adopted by the EU Council and will begin to be implemented after three years," he said. (The Block)