V EU ANTI-MONEY LAUNDERING DIRECTIVE: GREEN LIGHT TO THE IMPLEMENTING DECREE
The Justice and Finance Committee of the House of Representatives agreed, with observations, on the scheme of implementing decree of the V EU directive 2018/843 (V anti-money laundering directive), to be adopted within next October, 4th.
Specifically, the Government has been invited to integrate the definition of “providers engaged in exchange services between virtual currencies and fiat currencies and custodian wallet providers”, in order to identify on a case-by-case basis those subjects which, providing services to safeguard private cryptographic keys on behalf of its customers, to hold, store and transfer virtual currencies and do not accept cryptocurrencies as form of payments.
Among the other considerations, the provision of ad hoc measures, enabling simplified customer due diligence measures, helping reduce the burden on the intermediaries, especially on Clients with little risk of money laundering or terrorist financing.
It has also been sentenced the beneficial owner could be identified on the basis of the information obtained independently (i.e. from lists, records or other documents publicly available) and not only just over the information given by the Client.
Our staff is available for any clarification.
